Bitcoin is showing growth ahead of the expiration of $15 billion in options, which raises new interest and hopes for setting new records in its price.
Upcoming Bitcoin Options Expiry
According to Deribit, 139,767 Bitcoin options are set to expire on June 27. The put/call ratio is 0.74, including 80,351 calls and 59,416 puts. The max pain price for this expiry is $102,000, significantly lower than Bitcoin's current market price.
Bitcoin Market on the Rise
At the time of writing, Bitcoin is trading around $108,090, up 3.17% in the past 7 days. It has jumped over 9.58% from a weekly low of $98,560. With the market now entering a relatively stable phase, Bitcoin is attempting to break above monthly highs.
Risks in the Cryptocurrency Market
Despite the optimism, the uncertain nature of cryptocurrency markets could cause sudden shifts affecting Bitcoin's trajectory. Further escalation in the Middle East could also influence the broader cryptocurrency market.
Bitcoin is close to achieving new records, but the market remains susceptible to volatility and external risks.
