RATE Group | Bitcoin Price Clings to $8K as 37,000 BTC Options Set to Expire Today
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Bitcoin Price Clings to $8K as 37,000 BTC Options Set to Expire Today

27 Sep Bitcoin Price Clings to $8K as 37,000 BTC Options Set to Expire Today

Posted at 12:48h in Bitcoin News by

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Bitcoin price (BTC) stayed bounced back above $8,000 on Sept. 27, the day when over 50% of open interest in Bitcoin options is set to expire. 

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

37,000 Bitcoin options expire

Data from Coin360 showed BTC/USD fluctuating around the $8,000 mark over the past 24 hours, having briefly fallen to new recent lows of $7,733.

The lackluster performance continued a week of misery for Bitcoin traders, who saw the largest cryptocurrency shed a total of 21% since the previous weekend. 

Bitcoin seven-day price chart

Bitcoin seven-day price chart. Source: Coin360

Friday marked a notable settlement date for Bitcoin options, including CME Group’s Bitcoin futures. 

As Cointelegraph reported, such events have historically exerted downward pressure on the Bitcoin price. 

Discussing the likelihood of a change following settlement, regular Cointelegraph contributor Michaël van de Poppe fielded mixed results from Twitter users. 

In response to a survey, the roughly 600 accounts…

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