Key takeaways:
- Over 90% of Bitcoin call options may expire worthless if the price fails to break above $71,000 by Friday.
- Traders fear rising inflation and worsening credit conditions as the US and Israel-Iran war continues.
Bitcoin (BTC) has been stuck in a narrow range between $67,700 and $71,600 over the past week, closely following how the US stock markets reacted to the US and Israel-Iran war. Traders have high hopes that the upcoming $18.6 billion Bitcoin monthly options expiry on Friday could provide the bullish momentum needed to break above the $75,000 level for good.
The Bitcoin call (buy) options dominate March’s total open interest, totaling $11.2 billion, while put (sell) instruments stood 34% lower at $7.4…
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Source cointelegraph.com
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