Bitcoin bears need BTC price to go below $27K ahead of Friday’s $900M options expiry By Cointelegraph


© Reuters.

The $900 million weekly options expiry on May 12 might play a decisive role in determining whether the price will succumb to falling below $27,000.

Bitcoin (BTC) bears will try to take advantage of macroeconomic headwinds, Silk Road coins’ FUD — fear, uncertainty and doubt — and uncertainty caused by Bitcoin’s transaction fee spike to pull Bitcoin’s price down in the next few days.

Bitcoin four-hour price movements during option expiries. Source: TradingView
Bitcoin options aggregate open interest for May 12. Source: CoinGlass