40,000 1.7 dollari juures märgi Bitcoini hind, et Bullsile kasu saada XNUMX miljardi dollari väärtuses optsioonide aegumine

The upcoming expiry of 42,850 Bitcoin (BTC) options contracts could greatly benefit investors, given the flagship cryptocurrency’s spot price. Estimated to be worth $1.7 billion, the option expiry will receive a boost from the positive market sentiment around BTC and its $40,000 price tag. This has been an eventful week for the Bitcoin community as a series of developments pushed the biggest crypto out of its lull and forced short-sellers to bail from their positions.

The Impact of Bitcoin Surge On Options Market

Juulis 28 Bitcoin finally broke past $40,000 after stagnating for months at the lower end of the $35,000-$30,000 range. This upswing was largely propelled by the rumor that Amazon would integrate BTC and other altcoins into its payments options. But even after e-commerce titan keeldutakse the speculations, the currency continued to maintain its gains. According to CoinMarketCap data,  BTC was trading at $39, 816 at the time of writing and is up 22.53% in the last 7 days.

The options market suggests that Bitcoin bulls stand to gain a lot from holding on to the $40,000 level. Presently, 87% of the neutral-to-bearish call options are at $39,000 and lower. If BTC dips below $39K on July 30, put options worth $105 million would become available in the market

Elsewhere, neutral-to-bullish call options below $39,000 have $320 million invested in them. They hold an advantage of $215 million and if Bitcoin bulls hold the prices above $40K at the time of expiry, their lead would further expand by $140 million. Therefore, it seems reasonable to push the price beyond the suggested level until the Deribit expiry.

The Contribution of BTC Futures Expiry

Bitcoin futures contracts worth $650 million would also expire concurrently with the options on Friday. However, this amount will hinge on CME-d $455 million as merchants may close their position before the expiration. The futures expiry is scheduled for 3:00 pm UTC.

Altogether, bulls appear in firm control with the options market data favoring their side in the foreseeable future.