According to data from the online tracking source Skew, March 27 is the date when Bitcoin option contracts expire. A total of 49,400 BTC ($ 328 million) will expire tomorrow. So will this make any changes to the Bitcoin price? According to some, this may increase Bitcoin volatility significantly.
Bitcoin will experience its biggest expiry since June. This may already be putting pressure on BTC / USD, who ate refusal from $ 7,000 yesterday. The expiration of the futures means that approximately $ 328 million worth of BTC can enter the market again. This can cause a significant change in price.
The pair, which fell to $ 6 thousand 495, is now trading around $ 62 thousand, but has so far not been able to gather momentum to break the $ 7,000 resistance. The expiration dates of Bitcoin futures have long been associated with irregular price performance. According to a study conducted in September, it is claimed that BTC has decreased in 75% of the maturity dates of CME Group’s futures contracts.
In 2020, this idea was removed and traditional markets started to focus. According to another theory, it shows that a decrease in Bitcoin mining difficulty may lead to price pressure. According to the latest statistics, CME’s futures have reached around $ 300 million in the past five days.
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