$600M in Bitcoin options expire on Friday, giving bears reason to pin BTC under $16K
Cointelegraph
Published Nov 17, 2022 04:00PM ET
Updated Nov 18, 2022 12:40AM ET
No one can blame Bitcoin (BTC) bulls for placing bets at $20,000 and higher for the $600 million weekly options expiry on Nov. 18. After all, this level had provided a solid resistance since Oct. 25 and held for almost two weeks.
However, the base scenario changed abruptly on Nov. 8 after a liquidity crisis halted withdrawals on the FTX exchange. The movement surprised traders and over a 48-hour timespan, over $290 million in leverage buyers were liquidated.
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Written By: Cointelegraph
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