Bitcoin Trapped Between $75K and $80K Ahead of Massive Derivatives Settlement
Bitcoin's price is stuck in a narrow range between $75,000 and $80,000 as it approaches a critical derivatives settlement on Friday.
The cryptocurrency faces two key option strikes at these levels, which could influence how dealers adjust their hedges.
A total of 81,700 Bitcoin options contracts worth around $6.4 billion are set to expire on Deribit on August 28, with a significant concentration of call-side open-interest near the $75,000 and $80,000 strikes.