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Bitcoin Drops Below $48,000 as $6 Billion Options Are Set to Expire on Friday
Dec 29, 2021(Last modified: Dec 19, 2023)
Bitcoin price dropped to around $47,500 on Tuesday, below its 200-day moving average, ahead of the expiration of a total of 129,800 option contracts on Friday, which are worth around $6 billion.
According to previous reports from CoinDesk, historical data shows that Bitcoin tends to move toward its “max pain” point as the expiration of options nears and shows a solid directional move after settlement.
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