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Friday’s jaw-breaking $3.2B Bitcoin options expiry could kick-start a new rally
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Bitcoin (BTC) has been trading in a descending channel pattern since its $67,000 all-time high on Oct. 20, which was just one day after ProShares’ Bitcoin Strategy ETF (BITO) debuted at Nasdaq.
However, bulls have a sufficient number of incentives to peg Bitcoin's price above $60,000 on Oct. 29 when the $3.2 billion monthly options expiry settles.
Currently, investors are displaying mixed feelings about the exchange-traded fund’s approval, even though it reached $1 billion in assets under management in 48 hours. Either market expectations for these funds were insanely high, or the 42% gain in October until Oct. 19 was previously priced into the event.
The regulatory uncertainty in the United States is also a decisive factor in keeping some
Read more on cointelegraph.comAbout this in other media
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