in

Here’s why Bitcoin bulls might trample $50K ahead of Friday’s $2B BTC options expiry Cointelegraph via biedex.markets

Here’s why Bitcoin bulls might trample $50K ahead of Friday’s $2B BTC options expiry

$2 billion worth of (BTC) options will expire on Friday, Aug. 27. Some analysts argue that a strong call (buy) option buying activity on Aug. 22 was likely the catalyst for the recent $50,000 price test.

Digital asset trading firm QCP Capital mentioned in its market update that an entity has been “consistently pushing (option) prices higher in the last few weeks.” The activity, which took place during the morning trading session in Asia, aggressively bought bullish options in chunks of 100 BTC contracts each.

Bitcoin options aggregate open interest for Aug. 27. Source: Bybt.com

Continue Reading on Coin Telegraph