China News Today TheBitTimes.com

BTC traders fix their eyes on $31,000 even as $2 billion in Bitcoin options are set to expire this Friday. The upcoming $2 billion Bitcoin (BTC) monthly options expiry on July 28 could potentially establish $29,500 as a support level. Some argue that the recent U.S. Federal Reserve interest rate increase to 5.25% had a detrimental effect on risk-on assets like cryptocurrencies. However, Bitcoin bulls believe that the full impact of a tighter economic policy takes time to influence the markets. Bitcoin daily price movements during option expiries. Source: TradingView Looking back, the monthly expiry on June 30 did not cause significant volatility, given that Bitcoin had already experienced a 22.2% gain between June 15 and June 23. Conversely, the May monthly expiry triggered a 9% rally, with Bitcoin's price rising from $26,100 on May 25 to $28,450 on May 29. In contrast, the options expiry in April resulted in a 7% correction, as Bitcoin's price dropped from $29,900 on April 2...

BTC’s recent price swings are the result of regulatory pressure and the Federal Reserve’s stance on U.S. inflation. Bitcoin (BTC) bulls laid most of their options at $24,500 and higher for the March 3 options expiry, and given the recent bullishness seen from BTC, who can blame them? On Feb. 21, Bitcoin price briefly traded above $25,200, reflecting an 18% gain in eight days. Unfortunately, regulatory pressure on the crypto sector increased and despite no effective measures being announced, investors are still wary and reactive to remarks from policymakers. For instance, on Feb. 23, U.S. Securities and Exchange Commission Chair Gary Gensler claimed that "everything other than Bitcoin" falls under the agency's jurisdiction. Gensler noted that most crypto projects "are securities because there's a group in the middle and the public is anticipating profits based on that group." March 1 comments from two U.S. Federal Reserve (FED) officials reiterated the nece...