- Institutional interest in BTC grew as traders showed expectations of low volatility.
- Short term holders took profits, long term holders stayed put.
As Bitcoin’s [BTC] prices soared over the past few days, many retail investors have showcased interest in the cryptocurrency. However, it wasn’t just retail interest that was driving up BTC’s price. Notably, institutional investors were also showing interest in the king coin.
Read Bitcoin’s [BTC] Price Prediction 2023-2024
Too many options
Additionally, the BTC’s options market was also extremely active over the last few days. After the options expired on Friday, there were $2.75 billion worth of Bitcoin options on Deribit.
The Open Interest (OI) was at levels seen during 2021, sitting at $12.5 billion at press time. The majority of the OI were in December 2023 calls, followed by November 2023 calls.
post expiry updates:
-Friday saw $2.75b ntl of $BTC options expire on deribit. OI remains at 2021 levels at $12.5b, most OI lies in Dec23 calls followed by Nov23 calls.
-strikes: latest below h/t @Amberdataio. last week saw calls rolled out (h/t @tradeparadigm) and thus top… https://t.co/cVcPNKqkh5 pic.twitter.com/uAsOiTAidwGo to Source to See Full Article
Author: Himalay PatelDid you like this?
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