June 30 (Cointime) - Bitcoin and ether remained stable in their recent price ranges despite the expiration of quarterly options and a strengthening dollar index. The expiration of around 150,000 BTC options contracts and 1.2 million ether contracts on Deribit, the world's leading crypto options exchange, was a pivotal moment for market makers in BTC options who were "long gamma."
However, the largest cryptocurrency by market value traded listlessly between $30,000 and $31,000 and recorded just a 1% gain on the day to $30,700 after the settlement. The dollar index clocked a two-week high of 103.50, extending a two-day winning streak triggered by upbeat economic data releases, which may lead to financial tightening worldwide and risk aversion in markets.
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