Bitcoin Options Expiry Impact on Bulls and Bears

The Bitcoin halving hype has faded, and the massive options expiry this week sheds light on the outlook for the current BTC bull market.

Key Points About the Options Expiry:

• $9.25 billion in BTC options set to expire on June 28 morning
• June’s expiry marks the end of the first half of 2024, historically the second largest expiry in all markets
• Recent $3 trillion tech giant NVidia decline adds to investor concerns

Two months post-Bitcoin halving, bullish bets above $70,000 face challenge due to market weakness. Weak macroeconomic data favors bearish market sentiment. Potential bear market signals from market dynamics mirroring 2021. Deribit leads in June BTC options market. Put-to-call ratio imbalance highlighted.

Scenarios and Potential Outcomes:

• Between $57,000 and $60,000: Favorable to put options by $820 million
• Between $60,000 and $62,000: Put options favored by $430 million
• Between $62,000 and $64,000: Put options favored by $215 million
• Between $64,000 and $66,000: Balanced call and put options

Bitcoin bulls must maintain $60,000 support to avoid potential $820 million scenario favoring put options. Individual investment strategies not factored into calculations. This article does not offer investment advice.