{"id":166514,"date":"2023-10-02T12:38:55","date_gmt":"2023-10-02T07:08:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=166514"},"modified":"2023-10-02T12:38:55","modified_gmt":"2023-10-02T07:08:55","slug":"3-billion-in-bitcoin-options-expire-today-what-will-that-do-to-btcs-price-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/3-billion-in-bitcoin-options-expire-today-what-will-that-do-to-btcs-price-crypto-news\/","title":{"rendered":"$3 Billion in Bitcoin Options Expire Today\u2014What Will That Do to BTC’s Price? – Crypto News"},"content":{"rendered":"
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Get ready: Roughly $3 billion in Bitcoin options contracts will expire later today. But what does that mean for the price of the biggest cryptocurrency?\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin was up 0.2% in the past 24 hours\u2014trading hands for $26,921, according to CoinGecko. The asset has <\/span>brought the rest of the market<\/span><\/a> with it, with most digital coins and tokens in the green.\u00a0<\/span><\/p>\n

But with Bitcoin options contracts set to expire, the price of cryptocurrency could dip or swing up even higher, right?\u00a0<\/span><\/p>\n

<\/p>\n

Not necessarily. According to experts who spoke to <\/span>Decrypt<\/span><\/i>, it\u2019s unlikely the price of Bitcoin will budge that much.\u00a0<\/span><\/p>\n

Data from CME Group<\/a> shows that $9 billion worth of open interest\u2014or unexpired options contracts. And of those, $3 billion will expire today.<\/span><\/p>\n

A Bitcoin options contract is a deal that lets buyers snap up Bitcoin at an agreed-upon price\u2014regardless of whether the price changes by the time the contract expires, which can be many months later.\u00a0<\/span><\/p>\n

This means traders don\u2019t have to buy the Bitcoin when the contract expires\u2014they just can if they want to.\u00a0<\/span><\/p>\n

This means that if all that Bitcoin isn\u2019t bought by Friday, it will be either held or dumped. This would lead one to believe that it could cause price volatility.\u00a0<\/span><\/p>\n

But that doesn\u2019t usually happen. Anders Helseth, head of research at K33, told <\/span>Decrypt <\/span><\/i>that \u201cin general, options expiries in crypto don\u2019t affect prices much.\u201d<\/span><\/p>\n

While CryptoQuant contributing analyst BaroVirtual added that the current data \u201cindicates no clear bullish or bearish sentiment.\u201d\u00a0\u00a0<\/span><\/p>\n

He added that it \u201cwas likely\u201d Bitcoin would continue to trade between $26,500 and $27,250 in October.\u00a0<\/span><\/p>\n

\u201cThe tiny options volume by expiration also confirms the thesis that Bitcoin will probably not expect large-scale price spikes in the coming days,\u201d he noted.\u00a0<\/span><\/p>\n

Although the price of Bitcoin has historically been volatile, <\/span>that looks like it is changing<\/span><\/a>. And it doesn\u2019t look like $3 billion in options contracts will make much of a difference, either. <\/span><\/p>\n

\n
<\/p>\n

Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Get ready: Roughly $3 billion in Bitcoin options contracts will expire later today. But what does that mean for the price of the biggest cryptocurrency?\u00a0 At the time of writing, Bitcoin was up 0.2% in the past 24 hours\u2014trading hands for $26,921, according to CoinGecko. The asset has brought the rest of the market with […]<\/p>\n","protected":false},"author":2,"featured_media":166515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-166514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=166514"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166514\/revisions"}],"predecessor-version":[{"id":166517,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166514\/revisions\/166517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/166515"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=166514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=166514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=166514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}