Bullish Bitcoin newsflow gives bulls a boost ahead of Friday's $565M options expiry

11 Jun 2021

Bullish Bitcoin newsflow gives bulls a boost ahead of Friday's $565M options expiry

Bullish Bitcoin newsflow gives bulls a boost ahead of Friday's $565M options expiryOn Friday, June 11, a total of $565 million in Bitcoin (BTC) options are set to expire. This is significant because the last couple of weeks have been a massive deception for bulls. After all, the price was struggling to sustain the $33,000 support.However, an unexpected bullish turn of events led to an 18.5% hike from the $31,000 low on June 8 to $38,491 today. This strong move saved the bulls because any level below $34,000 would have wiped 98% of the current call (buy) options.Aggregate June 11 Bitcoin options. Source: Bybt

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