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Here’s why bears aim to keep Bitcoin under $29K ahead of Friday’s $640M BTC options expiry -Breaking

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Here’s why bears aim to keep Bitcoin under $29K ahead of Friday’s $640M BTC options expiry

In the last nine days, “s” (BTCThe closing daily price fluctuated between $28,700 – $31,300 in tight intervals. Investor confidence was negatively affected by the May 12th collapse of TerraUSD, previously the third largest stablecoin market cap. The path to Bitcoin price recovery appears cloudy after the Stock Market Index plummeted 4.7% on May 18.

Top US retailers disappoint with quarterly results AmpingRecession fears are up and the May 18th deadline is approaching Target Walmart shares plunged 17% within two days (NYSE::) The prospect of an economic slowdown brought the S&P 500 Index to the edge of bear market territory, a 20% contraction from its all-time high.

Bitcoin options open interest aggregated for May 20. Source: CoinGlass