Still recording some green on small timeframes, the price of Bitcoin has remained above $30,400. Despite the recent selling pressure across the sector, the support around this level held, providing bulls a chance to fight back. Related Reading: Bitcoin Bulls Battle Against Miners’ $128 Million Move: Is The Bull Run In Danger? As of this writing, Bitcoin trades at $30,458 with sideways movement in the last 24 hours. The previous week, the number one crypto by market cap recorded similar price action while other cryptocurrencies experienced losses. Bitcoin About To Explode? Data from crypto options platform Deribit, shared by analyst Tom Dunleavy, shows that over $7 billion in these contracts will expire today, Friday 29th. In other words, today, option holders can exercise their right or obligation to buy/sell BTC and other assets at a specific price, depending on their contract. Over $5 billion of the options contracts are based on Bitcoin, while the rest are based on Ethereum, as seen in the chart below. However, option holders could choose to “roll over” their contracts to a later date. As a resu ..
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