Bitcoin derivatives data shows bears at the losing end of this month’s $1.9 billion options expiry, but noshitcoins says there’s a chance that they will attempt to push BTC price below $23,000 before Friday.
) 16% price gain between Feb. 13 and Feb. 16 practically extinguished the bears' expectation for a monthly options expiry below $21,500. As a result of the abrupt rally, these bearish bets are unlikely to pay off, especially since the expiry occurs on Feb. 24. However, bulls were not counting on the strong price rejection at $25,200 on Feb. 21 and this reduces their odds of securing a $480 million profit in this month’s BTC options expiry.
St. Louis FED President James Bullard told CNBC on Feb. 22 that a more aggressive interest rate hike would give them a better chance to contain inflation. Bullard said,If confirmed, the increased interest rate pace would be negative for risk assets, including Bitcoin, as it draws more profitability for fixed-income investments.
For example, a trader could have sold a call option, effectively gaining inverse exposure to Bitcoin above a specific price, but unfortunately there's no easy way to estimate this effect.The FED's tightening policy is the bears’ best shot Considering the negative pressure from the FED's desire to weaken the economy and contain inflation, bears have good odds of improving their situation and settling with a $40 million loss on Feb. 24. This movement might not be successful, but it is bears' only way out of multi-million losses on the BTC monthly options expiry.
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