New reasons for investing in Bitcoin arose as the United States struggled with a banking crisis, but noshitcoins says BTC bulls may have overplayed their hand in this week’s options expiry.
Bitcoin's 43% rally between March 10 and March 20 surprised options traders and this is proven by the minimal14% of the $1.12 billion open interest set to expire on April 7 being placed at $28,000 and higher.
Investors' appetite for commodities vastly increased after the U.S. Treasury Department reportedly discussed the possibility of expanding the Federal Deposit Insurance Corporation insurance for bank deposits on March 21. Oil prices measured by the WTI have rallied 23.5% since March 20, and gold broke above $2,000 on April 5 — its highest daily close since Aug. 2020.
For instance, if Bitcoin's price remains near $28,100 on April 7 at 8:00 a.m. UTC, there will be only $125 million in call options. This distinction arises since the right to buy Bitcoin at $29,000 or $30,000 is rendered void if BTC trades below that on the expiry.Bulls and bears have similar incentives, so the outcome is unpredictable
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World’s Largest Ruby To Appear At Auction Could Fetch $30 MillionNamed the Estrela de FURA, it weighs 55.22 carats. It will be offered at Sotheby’s Magnificent Jewels auction in New York on June 8.
Read more »
Largest ruby ever to come to auction may fetch over $30 millionA 55.22-carat ruby is poised to become the largest — and should it sell for over $30.3 million, the most valuable — gem of its kind ever to appear at auction.
Read more »
SZA’s Explosive Touring Growth, From CTRL to SOS, by the NumbersThe the latest trek earned more than $30 million in North America.
Read more »
Guest Post by Internet_Computer: Chain-Key Bitcoin: A Decentralized Bitcoin Twin | CoinMarketCapChain-Key Bitcoin (ckBTC) is now live on the Internet Computer, bringing true decentralization to DeFi and the blockchain space.
Read more »
Microstrategy's Bitcoin Holdings Reach 140,000 BTC After Acquiring 1,045 More Bitcoins – Bitcoin News“Microstrategy has acquired an additional 1,045 bitcoin for $29.3 million at an average price of $28,016 per bitcoin,” Saylor said on Wednesday.
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Moves Above $28,500 as ETH Nears $2,000 – Market Updates Bitcoin NewsBitcoin broke out of a resistance level of $28,500 on April 5, as crypto markets continued to react to economic data from the United States.
Read more »