Bitcoin bears could face $440M loss in Friday’s options expiry
The bailout of Silicon Valley Bank provided a significant advantage to BTC bulls on the weekly $1.2 billion BTC options expiry.
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="480" height="319" />)
The rejection that followed Bitcoin’s
BTC
tickers down
$25,035
rally to $26,500 may appear to be a victory for bears, but $24,750 on March 14 was the highest daily close in nine months. Furthermore, Bitcoin has gained 26.5% since March 10, when the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB).
The recent price increase could be attributed to various factors, including the extraordinary $25 billion funding by the Federal Reserve and the United States Treasury on March 12, which reduced banks’ systemic risks. Nonetheless, Bitcoin bulls are well positioned to profit up to $440 million when weekly options expire on March 17.
3 comments