Over Half A Billion Dollars Wiped Out As Bitcoin Locks In At $70,000
Whale wallets quietly shifted to buying mode over the past two weeks — even as the broader crypto market absorbed one of its worst single-day liquidation events in recent memory. Related Reading: Bitcoin Stalls Near $75K As Traders Move Coins To Exchanges A Massive Options Expiry Freezes The Price Friday’s settlement of Deribit’s March options contracts has effectively put Bitcoin on hold. The expiry involves 24,838 contracts with a combined notional value of $1. 72 billion, and BTC has landed squarely at the $70,000 strike — the exact level known as “max pain,” where the greatest number of options contracts expire worthless
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