Roughly $14 billion of Bitcoin options expired Friday. The expiry had been artificially muting Bitcoin’s price swings & will expose the token to a sharper move driven by geopolitics.
The largest amount of options had an ex price of $75k, which has pulled the price towards this level but also effectively capping it as writers of these options obviously want them to expire worthless.
These trade flows should fade away now which should lead to a new stage of price discovery.
Posted by Representative-Use32