Bitcoin Price Drops Prematurely Ahead of High-Value Options Expiry

Bitcoin is experiencing a three-week downturn, with experts attributing it to upcoming options expiry events. The cryptocurrency’s price has dipped below $108,000, raising concerns about further declines as traders anticipate over $15 billion in derivatives contracts expiring today. Technical analysis suggests more dips are likely on the horizon. 2, The impending $15 billion option expiration is a significant factor driving the volatility in Bitcoin. Data from Deribit shows short sellers anticipating a price drop to between $95,000 and $110,000, while options open interest has surged to $57 billion on Friday, signaling heightened anticipation for the expiry.