Market makers in ‘fear mode’ ahead of Friday’s $575M Bitcoin options expiry
Cointelegraph
Published Jun 02, 2021 05:05PM ET
Updated Jun 02, 2021 06:40PM ET
On June 4, a total of 15,530 Bitcoin (BTC) options are set to expire, which represents $575 million in open interest. At the moment, bulls are still heavily impacted by May's 37% BTC price correction, and this has led most call (buy) options to be underwater.
Despite the crash, Bitcoin's active supply reached a five-month low, as 45% of the coins have not been moved over the past two years. This indicator shows that investors who purchased up until the 2019 bull run are unwilling to sell at the current prices.
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Written By: Cointelegraph
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