Bitcoin has had a couple of lackluster weeks, with its price trading narrowly at $9,100-$9,600. At the time of writing, bitcoin is changing hands at around $9,595. Although bitcoin has slightly recovered from $9,400, which considered by many a key resistance mark, it seems that bitcoin still needs some greater boosts to surpass the $10,000. If the past few weeks are the calm before the storm, the massive BTC options contracts that are set to expire this Friday could be the catalyst bitcoin needs to make a big move.
On June 26, 100,000 bitcoin options worthy of $930 million will expire, amounting to 70% of bitcoin’s open interest. Almost 70% of the contracts to be expired are exchanged in Deribit, and the contracts of CME accounts for about 25%.
According to the data of CME, almost all the contracts to be expired are call-options contracts, and 75% of CME contracts are betting bitcoin will reach $11,000 and higher. Although bitcoin got a boost on June 23 and reached $9,600, these contracts are unlikely to generate any profits for traders, and their expiration would further add pressure to bitcoin’s price.
Bitcoin trading sideways is a painful scenario for many traders. For hodlers, although they can’t really make much profits, at least their coins are safe from depreciation. But for speculators, any big move, no matter positive or negative, is a chance to make a profit. Sometimes, we just don’t know we love volatility until it disappears.
But with bitcoin struggling in such a tight range, any movements, however small it might be, may cast a significant influence on bitcoin’s price. We may once again experience its high volatility, and the time to earn more bitcoins with volatility will finally come.
BTC Leveraged Trading – Make Profits from the Ups and Downs of Bitcoin
Leveraged trading is an instrument tailored-made for the undulant market, especially for the bear market. Traders can short or long bitcoin and use leverage to open contracts far greater than their initial investment.
Bexplus, a Hong-kong based crypto exchange, can be the option to help you make profits from the ups and downs of bitcoin. Bexplus offers 100x leverage futures trading on BTC, ETH, LTC, EOS, XRP and etc. With 0.01 BTC, you can open a contract worth 1 BTC. In spot trading, if the price goes up 10%, you can only gain 10% profit. But with Bexplus, no matter the market goes up or goes down, you can earn 1000% profit as long as your prediction is right.
Establish in 2017 and headquartered in Hong Kong, Bexplus is one of the most user-friendly crypto exchanges. With its intuitive interface and demo account, beginners can learn to trade and improve their skills.
Advantages of Bexplus
No KYC, no information leakage, only email confirmation is required.
Trading simulator with 10 BTC.
No deposit fee, easy withdrawal in as fast as 30 minutes.
Powerful mobile support available on Apple App Store and Google Play
BTC wallet with up to 30% annualized interest
Affiliate program with up to 50% commission reward
24/7 customer support
If you are not satisfied with waiting for bitcoin price to rise and are ambitious to make more profits with leveraged trading, Bexplus is an ideal platform for you. Join the 100% deposit bonus promotion now and maximize profits!
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