Bullish Bitcoin newsflow gives bulls a boost ahead of Friday’s $565M options expiry By Cointelegraph

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Bullish Bitcoin newsflow gives bulls a boost ahead of Friday’s $565M options expiry

On Friday, June 11, a total of $565 million in (BTC) options are set to expire. This is significant because the last couple of weeks have been a massive deception for bulls. After all, the price was struggling to sustain the $33,000 support.

However, an unexpected bullish turn of events led to an 18.5% hike from the $31,000 low on June 8 to $38,491 today. This strong move saved the bulls because any level below $34,000 would have wiped 98% of the current call (buy) options.

Aggregate June 11 Bitcoin options. Source: Bybt