60 percent of current Bitcoin options will expire in the next 6 days. It is thought that this could lead to a great fluctuation in the cryptocurrency market.
Bitcoin price has been in the range of 9 thousand 200-9 thousand 500 dollars for a few days. Meanwhile, many predictions are made about where Bitcoin is heading. Some say that Bitcoin will rise above $ 10,000 again, while others warn that the price may decline again.
The cryptocurrency market has been moving partially stably for several days, but this may begin to change over the next few days. Because there will be an event that will activate the market 6 days later.
The Critical Day Is Coming
Almost 60 percent of the monthly and quarterly Bitcoin options will expire on June 26. It is a big curiosity how this day, which is almost a week away, will affect the crypto market. Arcane Research comments on this critical day as follows:
“On June 26, an almost $ 1 billion option contract will expire, accounting for 60 percent of the total open position in the market. In such cases, it is possible for the spot price to act before the contracts expire. ”
May Not Meet Expectations
Current data show that the market may experience a small-to-medium fluctuation in the coming days, but the opposite is also possible. This development in option contracts may not affect the spot market. This is because the total volume of the option market is much lower compared to the volumes of the futures and spot markets.
According to the information shared by Arcane Research, the effects of this development in the option market may be far below expectations. In other words, expiring option contracts may not affect Bitcoin’s spot price in any way.