$1.1 Billion Bitcoin to expire tomorrow: What to expect?
Bitcoin’s month-end options expiry is just around the corner. At 8:00 AM UTC tomorrow , BTC worth $1.14 billion will expire . Data from Coinglass revealed that traders remained divided, with only a marginal difference between the bullish and bearish bets. The call OI at press time for November 25th’s expiry stood at 36,465.67 BTC. The put OI, on the other hand, stood at 32,520.2 BTC. Resultantly, the call/put ratio stood above 1 [at 1.12, to be precise]. Clearly, the bulls have a slight upper hand at the moment, contrary to last week’s expiry scenario. Source: Coinglass Strike price-wise breakdown The $16k, $17k, and $18k psychological levels seemed to be the most attractive ones to traders. At exactly 16k, call OI stood at 1.06k BTC, while put OI stood at 3.3k BTC, favoring bears. However, at 16.5k—the price around which BTC is currently hovering—calls overshadowed the puts [1.72k BTC versus 979.1 BTC]. Usually, most bearish bets are been placed at lower...