{"id":427932,"date":"2020-06-21T20:00:38","date_gmt":"2020-06-21T20:00:38","guid":{"rendered":"https:\/\/wncen.com\/?p=427932"},"modified":"2024-06-11T14:04:13","modified_gmt":"2024-06-11T14:04:13","slug":"friday-bitcoin-contracts-expire","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/friday-bitcoin-contracts-expire\/","title":{"rendered":"Freaky Friday: 60% of Bitcoin Contracts Expire This Week"},"content":{"rendered":"

With Bitcoin consolidating for nearly six weeks<\/a> and the cryptocurrency community expecting a major move as a result, open interest in BTC options has been surging across the market.<\/p>\n

This coming Friday, June 26, nearly $1 billion in value worth of open interest in options, representing 60% of all options open interest, is set to expire. And when it does it could bring about a much need break in the sideways price action and a steep surge in the asset’s trademark volatility.<\/p>\n

Bitcoin Trades Sideways For Weeks, Preparing For Move To $11K or $7K<\/h2>\n

Bitcoin price has been stuck in a tight trading range<\/a> for a month and a half. Several attempts to breach above $10,000 have been made, but none thus far has managed to hold.<\/p>\n

However, sellers have equally been unable to cause any sort of price weakness that brings the asset down to retest support below. A series of high lows has kept any uptrend intact.<\/p>\n

Related Reading | This Volatility Measuring Tool Is Signaling One of Bitcoin\u2019s Biggest Moves Yet\u00a0<\/a><\/strong><\/em><\/p>\n

The lack of direction and clear trend has brought volatility to record lows<\/a>, but a break is soon expected.<\/p>\n

Data shows that when Bitcoin finally break out from consolation, expansion follows pushing the price by at least 20% or more<\/a>.<\/p>\n

20% to the upside would be a clear breakout of the bear market triangle at $11,250. Downside breakouts could target $7,500 or lower. But first, a break is necessary.<\/p>\n

60% of BTC Options Expiring Could Light Crypto’s Short Fuse<\/h2>\n

Before the end of this week, the break in volatility may finally be here.<\/p>\n

This coming Friday, June 26, over 60% of the open interest in Bitcoin options is set to expire<\/a>. Although Bitcoin options are tiny compared to spot and futures in market share, such a large portion of contracts could prompt traders to try and influence spot prices to settle their options contracts in their favor.<\/p>\n

\"bitcoin<\/p>\n

Given the lack of volatility and how many traders that may be sidelined by the market choppiness, any significant price movements in either direction could be amplified due to a decision finally being made.<\/p>\n

This past Friday, an ominous-sounding event called the “Quadruple Witching” occurred in the stock market. It got its name from an old wives’ tale related to “the witching hour” when witches and other spirits came out to cause a ruckus.<\/p>\n

Related Reading | Data Shows Bitcoin More Likely To Pump Following Consolidation, 20% Move Anticipated<\/a><\/strong><\/em><\/p>\n

It’s also the name for when four types of stock options expire all at once, which can also cause a ruckus across the stock market.<\/p>\n

The same could happen in for Bitcoin, with such a large sum of similar options contacts expiring all at once.<\/p>\n

Any price movements may occur going into expiration, so this entire week could be a nail biter. The day, in particular, to watch for, however, is Friday, June 26, when contracts expire.<\/p>\n","protected":false},"excerpt":{"rendered":"

With Bitcoin consolidating for nearly six weeks and the cryptocurrency community expecting a major move as a result, open interest in BTC options has been surging across the market. This coming Friday, June 26, nearly $1 billion in value worth of open interest in options, representing 60% of all options open interest, is set to expire. And when it does it could bring about a much need break in the sideways price action and a steep surge in the asset’s trademark volatility. Bitcoin Trades Sideways For Weeks, Preparing For Move To $11K or $7K Bitcoin price has been stuck in a tight trading range for a month and a half. Several attempts to breach above $10,000 have been made, but none thus far has managed to hold. However, sellers have equally been unable to cause any sort of price weakness that brings the asset down to retest support below. A series of high lows has kept any uptrend intact. Related Reading | This Volatility Measuring Tool Is Signaling One of Bitcoin\u2019s Biggest Moves Yet\u00a0 The lack of direction and clear trend has brought volatility to record lows, but a break is soon expected. Data shows that when Bitcoin finally break out from consolation, expansion follows pushing the price by at least 20% or more. 20% to the upside would be a clear breakout of the bear market triangle at $11,250. Downside breakouts could target $7,500 or lower. But first, a break is necessary. 60% of BTC Options Expiring Could Light Crypto’s Short Fuse Before the end of this week, the break in volatility may finally be here. This coming Friday, June 26, over 60% of the open interest in Bitcoin options is set to expire. Although Bitcoin options are tiny compared to spot and futures in market share, such a large portion of contracts could prompt traders to try and influence spot prices to settle their options contracts in their favor. Given the lack of volatility and how many traders that may be sidelined by the market choppiness, any significant price movements in either direction could be amplified due to a decision finally being made. This past Friday, an ominous-sounding event called the “Quadruple Witching” occurred in the stock market. It got its name from an old wives’ tale related to “the witching hour” when witches and other spirits came out to cause a ruckus. Related Reading | Data Shows Bitcoin More Likely To Pump Following Consolidation, 20% Move Anticipated It’s also the name for when four types of stock options expire all at once, which can also cause a ruckus across the stock market. The same could happen in for Bitcoin, with such a large sum of similar options contacts expiring all at once. Any price movements may occur going into expiration, so this entire week could be a nail biter. The day, in particular, to watch for, however, is Friday, June 26, when contracts expire.<\/p>\n","protected":false},"author":517,"featured_media":427937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-427932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nFreaky Friday: 60% of Bitcoin Contracts Expire This Week<\/title>\n<meta name=\"description\" content=\"With Bitcoin consolidating for nearly six weeks and the cryptocurrency community expecting a major move as a result, open interest in BTC options has been\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Freaky Friday: 60% of Bitcoin Contracts Expire This Week","url":"http:\/\/wncen.com\/news\/friday-bitcoin-contracts-expire\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/friday-bitcoin-contracts-expire\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-options-contracts-futures-expire-shutterstock_1196102665-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-options-contracts-futures-expire-shutterstock_1196102665-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2020-06-21T20:00:38Z","datePublished":"2020-06-21T20:00:38Z","dateModified":"2024-06-11T14:04:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Freaky Friday: 60% of Bitcoin Contracts Expire This Week\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/friday-bitcoin-contracts-expire\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/friday-bitcoin-contracts-expire\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/bitcoin-options-contracts-futures-expire-shutterstock_1196102665-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/bitcoin-options-contracts-futures-expire-shutterstock_1196102665-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-06-21T20:00:38Z\",\"datePublished\":\"2020-06-21T20:00:38Z\",\"dateModified\":\"2024-06-11T14:04:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-options-contracts-futures-expire-shutterstock_1196102665-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427932"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=427932"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/427937"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=427932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=427932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=427932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}