Bulls aim to turn the tide in Friday’s $580M options expiry after BTC tops $43K By Cointelegraph

Bulls aim to turn the tide in Friday’s $580M options expiry after BTC tops $43K

Cryptocurrency Jan 20, 2022 04:00PM ET

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Bulls aim to turn the tide in Friday’s $580M options expiry after BTC tops $43K

Bitcoin (BTC) investors seem uncomfortable with adding positions after the most recent 40% correction from the $69,000 all-time high made on Nov. 10. In addition to the prolonged downtrend, remarks from the United States Federal Reserve on Dec. 15 about rising interest rates are also weighing on risk-on assets.

The Fed signaled that it could raise its benchmark rate three times this year and there are plans to increase the pace of its asset purchasing taper.

Bitcoin price at Coinbase (NASDAQ:COIN), USD (right) vs. China stock market MSCI index (left)

Bitcoin options aggregate open interest for Jan. 21. Source: Coinglass.com

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