Crypto Market Volatility Ahead of Options Expiration

Bitcoin and other cryptocurrencies experienced a volatile day, with Bitcoin dropping below eighty-eight thousand dollars and Ethereum falling under three thousand dollars. However, some crypto-related stocks like Hut Eight and Coinbase performed well. Traders are preparing for Fridays massive options expiration on Deribit, with a record twenty-eight point five billion dollars in Bitcoin and Ethereum options. The market shows signs of maturity with institutional players in control, but volatility remains a concern as Bitcoins max pain level sits at ninety-six thousand dollars and one point two billion dollars is clustered in open interest at the eighty-five thousand strike for puts.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.