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Bitcoin bulls set to net an $830M profit after Friday's BTC options expiry
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Two or three weeks ago, when Bitcoin (BTC) was trading below $52,000, a trader betting on $65,000 by Oct. 22 would have been considered extremely optimistic. The fact that 98% of the put (sell) options for Bitcoin's weekly options expiry this Friday have been placed below that price proves that this is true.
Fast forward to this week, and the successful launch of the first BTC exchange-traded fund (ETF) in the United States and news that Digital Currency Group (DCG), the parent company of the Grayscale Bitcoin Trust, increased its limit to acquire up to $1 billion worth of GBTC shares, boosted Bitcoin price to new all-time highs.
The $40.5 billion investment vehicle has been available for trading on U.S. markets since March 2015, and it
Read more on cointelegraph.comAbout this in other media
Why Bitcoin bears are trying to keep BTC price below $62K for Friday’s options expiry cointelegraph.com /3 years ago
Friday’s $540M Ethereum options expiry favors traders with targets at $5K cointelegraph.com /3 years ago
Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin cointelegraph.com /3 years ago
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