A total of approximately $3 billion worth of bitcoin options purchased for November on the leading derivatives exchanges of the crypto money industry expire today.
According to Coinglass data, there are approximately 49,100 options that will expire today, of which approximately 33,400 are call options and 15,700 are put options.
These are roughly $2.5 billion The expiry date of options on Deribit, which hosts approximately 44,500 of them, will take place at 11:00 Turkish time.
Most call options $58,000 It has a strike price above the max pain point.
It is unclear how applicable the max pain theory is for the cryptocurrency market, which is based on the ability of large investors to take manipulative steps against small investors and predicts that the option will expire at the expiry level at a level where option buyers will lose.
Bitcoin on Friday morning according to CoinGecko data $69,000 about 16% from its record, At $57,550 is being traded.
The Federal Reserve expressed its concerns about inflation in the minutes of its meeting published on November 24, and faced financial stability. risky to relieve inflation pressure. “will not hesitate to take the necessary steps” stated.
Ed Moya, senior market analyst at OANDA, said after the Fed signaled that it might raise interest rates by next year, “Traders expect the Fed to hold itself through 2022. several times December, as they can get a better idea of whether it is positioned to decide to raise interest rates. [bitcoin] for could be a volatile month” made a statement.