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Bitcoin bulls target $50K as Friday’s $655M BTC options expiry approaches Cointelegraph via biedex.markets

Bitcoin bulls target $50K as Friday’s $655M BTC options expiry approaches

(BTC) failed to break the critical $50,000 psychological barrier on Aug. 23 and has since then retested the $47,000 support. If historical data plays any role in Bitcoin price, the month of September presented negative performances in 4 of the previous 5 years.

Cointelegraph contributor and market analyst Michaël van de Poppe recently said that Ether’s (ETH) break above $3,500 could be a leading indicator for Bitcoin’s next bull run, and now that Ether trades at $3,700, traders anxiously await BTC’s next move.

Bitcoin options aggregate open interest for Sept. 3. Source: Bybt.com

Bears were also caught by surprise

Incentives are in place for bulls to try to break $50,000

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