Bitcoin and Ethereum remained stable as options contracts worth billions expired on Friday morning. Bitcoin was up by 1% while ETH jumped 1.6%. The expiration of Bitcoin options on Deribit with a notional value of $2.26 billion and $1.25 billion for Ethereum created uncertainty in the market. Traders mainly held bullish positions, which probably explains why the price reacted negatively before expiration. Bitcoin and Ethereum are suffering from low liquidity, which is expected to exacerbate the impact of the option expiration event.
All Comments