These days more than 100,000 options on Bitcoin expire. Also, according to Billy Bambrough of Forbes, 70% of these contracts will be settled this Friday, June 26. This means that close to 1,000,000,000 dollars in Bitcoin options contracts are about to expire.
What can happen?
With the expiration of these contracts, the value of Bitcoin can be increased, reaching up to $11,000. Keep in mind that most of these contracts, which are usually signed quarterly, correspond to the time when Bitcoin was above $6600. This would lead to great appreciation, according to Su Shu.
These option contracts are a way of doing business by betting (or speculating) on the value of the cryptocurrency on a pre-established date. That is, there is speculation about whether it will appreciate or depreciate, and, according to Forbes, about 75% of these contracts have bet on Bitcoin reaching $11,000.
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