Data shows the ‘Bitcoin price drops ahead of CME expiries’ claim is a myth
Cointelegraph
Published May 15, 2021 02:30PM ET
Updated May 16, 2021 04:20PM ET
Historically, activity surrounding the Bitcoin (BTC) monthly futures and options expiry has been blamed for weakening bullish momentum. A few studies from 2019 found a 2.3% average drop in BTC price 40 hours before the CME futures settlement date.
However, as Cointelegraph reported in June 2020, the effect faded away. While 2020 seems to have rejected the potential negative impact of CME expiries, so far, the current year appears to validate the theory. Bitcoin’s price has been suppressed ahead of futures and options expiry in the first three months of 2021.
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Written By: Cointelegraph
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