3 reasons why bears aim to pin Bitcoin below $30K for this week’s BTC options expiry

2022.05.12 22:56

3 reasons why bears aim to pin Bitcoin below $30K for this week’s BTC options expiry

Investors were surprised by Bitcoin (BTC) price falling to $25,500 on May 12, and this shock extended to options traders. The strong correction was not restricted to cryptocurrencies and some large-cap stocks faced 25% or heavier weekly losses in the same period.

Growing economic uncertainty impacted S&P 500 index members like Illumina (NASDAQ:ILMN), which declined by 27% over the past seven days and Caesars Entertainment (NASDAQ:CZR) faced a 25% drop. Shopify (NYSE:SHOP), one of the largest Canadian e-commerce companies also saw its stock plunge by 28%.

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