Bitcoin bears need BTC price to go below $27K ahead of Friday's $900M options expiry By Cointelegraph

4 Key Reasons US Treasury Market Selloff Is Likely to Continue in the Months Ahead

Bitcoin bears need BTC price to go below $27K ahead of Friday's $900M options expiry

Published May 11, 2023 08:26AM ET Updated May 11, 2023 09:20PM ET

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Bitcoin bears need BTC price to go below $27K ahead of Friday's $900M options expiry

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The $900 million Bitcoin weekly options expiry on May 12 might play a decisive role in determining whether the price will succumb to falling below $27,000.

Bitcoin (BTC) bears will try to take advantage of macroeconomic headwinds, Silk Road coins' FUD — fear, uncertainty and doubt — and uncertainty caused by Bitcoin’s transaction fee spike to pull Bitcoin's price down in the next few days.

Bitcoin four-hour price movements during option expiries. Source: TradingView

Bitcoin options aggregate open interest for May 12. Source: CoinGlass

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