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Bitcoin headed for Christmas volatility as 100K BTC options expire


22 Dec 2020   #Bitcoin

In a Monday tweet, crypto data provider Skew reported that 102,200 Bitcoin (BTC) options will expire on Friday. Options contracts allow holders to buy or sell Bitcoin at a specific price, which is known as the strike price. The Friday expiry has notable clusters around the $15,000 strike price and the $20,000 strike price, according to Skew.

The expiry date of Bitcoin options contracts is widely regarded as a volatile event for the flagship cryptocurrency because, as the expiry nears, holders adjust their contracts. Traders who are in profit may also decide to receive the payout and dump the cryptocurrency.

Such events have been known to cause large fluctuations in Bitcoin’s value. Typically, the impact of a contract on BTC price becomes more apparent roughly one or two days before expiry. Crypto derivatives trading has soared this year as more traders and institutional investors look for added Bitcoin exposure. Last week, crypto derivatives platform Deribit began offering Bitcoin futures with a $100,000 strike price expiring on Sept. 24, 2021. In other words, Bitcoin enthusiasts who think the cryptocurrency will reach a six-figure moonshot can now take that bet in the futures market.

Roughly $2.3 billion worth of Bitcoin futures are set to expire on Christmas day, setting the stage for a volatile week in the cryptocurrency market.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 86.8% 25 $47 514.86 0.03% 4.04% $894 161 245 483 $28 719 970 368
2 Ethereum (ETH) ETH Ethereum predictions 73.6% 52 $3 425.09 -4.04% 3.39% $402 666 663 593 $18 286 623 700
3 Cardano (ADA) ADA Cardano predictions 70.8% 64 $2.37 -2.40% -1.36% $75 781 714 075 $2 487 829 825
4 Binance Coin (BNB) BNB Binance Coin predictions 63.6% 70 $411.72 -2.88% 1.09% $69 224 713 306 $1 527 065 026
5 Tether (USDT) USDT Tether predictions 95.2% 1 $1.000505 0% 0.04% $68 288 419 652 $68 611 287 328
6 XRP (XRP) XRP XRP predictions 71.6% 54 $1.076541 -1.68% 0.07% $50 190 746 420 $3 097 982 561
7 Solana (SOL) SOL Solana predictions 60.4% 90 $144.23 -5.53% -20.65% $42 811 715 184 $4 598 352 380
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9 Dogecoin (DOGE) DOGE Dogecoin predictions 68% 66 $0.242934 1.34% 0.11% $31 903 126 082 $2 283 954 463
10 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000592 0.03% 0.04% $29 326 641 867 $2 830 929 347
11 UniSwap (UNI) UNI UniSwap predictions 69.2% 57 $24.71 -5.84% 8.18% $15 112 382 412 $538 836 442
12 Avalanche (AVAX) AVAX Avalanche predictions 66% 69 $65.07 -0.74% 35.80% $14 334 471 719 $1 976 567 012
13 Terra (LUNA) LUNA Terra predictions 65.2% 67 $35.13 -6.95% -12.79% $14 112 450 042 $1 162 902 372
14 Chainlink (LINK) LINK Chainlink predictions 71.6% 57 $28.33 -5.40% 5.96% $12 847 482 644 $1 503 217 743
15 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $1.000515 0.03% 0.04% $12 832 920 510 $5 737 193 114

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