$BTC Bitcoin Options Analyst Expect BTC To Break $70,000 In 24 Hours: Here’s Why

Bitcoin remains within a bullish formation but is technically under pressure, as shown in the daily chart. At spot rates, there are hints of weakness, especially considering buyers’ failure to breach $72,000.

Over $4.7 Billion Of BTC Options Expiring In 24 Hours

However, one CEO of a crypto firm thinks this is about to change. On May 30, over $4.7 billion of Options contracts will expire at 8:00 AM UTC, possibly sparking a rally to lift prices above $70,000, igniting an uptrend continuation.

In a post on X, the founder points out that most contracts expiring on May 30 are bullish call options, with strike prices exceeding $70,000. Because of this positioning, there appears to be a strong contingent of investors betting on Bitcoin expanding above the psychological $70,000 liquidation line within the next 24 hours.