【⚠️CAUTION⚠️】
I explained that one of the reasons behind the sharp move in Bitcoin $BTC was a short squeeze, combined with the impact of options gamma.
Today, we also had the weekly Bitcoin options expiry.
But there is one more thing you should be aware of.
Today is a major options expiry for the Bitcoin ETF $IBIT.ETF
⏰ Expiry time: August 21 (Fri), 20:00 UTC
Be especially cautious of price action around this time.
There have been occasions in the past when Bitcoin experienced larger-than-usual moves around major IBIT options expiries.
This is something that many market participants may still be overlooking.
$BTC
I explained that one of the reasons behind the sharp move in Bitcoin $BTC was a short squeeze, combined with the impact of options gamma.
Today, we also had the weekly Bitcoin options expiry.
But there is one more thing you should be aware of.
Today is a major options expiry for the Bitcoin ETF $IBIT.ETF
⏰ Expiry time: August 21 (Fri), 20:00 UTC
Be especially cautious of price action around this time.
There have been occasions in the past when Bitcoin experienced larger-than-usual moves around major IBIT options expiries.
This is something that many market participants may still be overlooking.
$BTC