Bitcoin Price Stuck at $64,000 as $10.5 Billion Option Contracts Expiring Today
The Bitcoin price has been stuck around $64,000 due to ongoing uncertainty surrounding US monetary policy and geopolitical risks in the Middle East.
However, attention is now focused on high-volume option contracts expiring today, which could have a significant impact on the market.
A total of approximately $9.7 billion worth of crypto options will expire on Deribit derivatives exchange on July 31, with Bitcoin and Ethereum options worth $9.69 billion and $830 million respectively.
The put/call ratio for Bitcoin options is 0.28, indicating that investors are betting on higher returns and expecting an upward trend.