Bitcoin price prediction: $12.2 billion in options expire on October 30, and what you can do now

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.On October 30, 149,686 Bitcoin contracts with a notional value of $12.2 billion expire on the Deribit options exchange, two thirds of them calls. With the largest bets at $95,000 and $100,000 but the market pricing only a 6 percent move, the day that decides is not the expiry but the $79,000 level.At 08:00 UTC on October 30, 149,686 Bitcoin contracts expire on the Deribit options exchange. At $81,420, the price at midday on Saturday, that is a notional value of $12.2 billion. It is by far the largest date in the coming weeks: the expiry on October 23 carries 14,759 contracts, the November date on the 27th another 26,779. The monthly expiry is ten times the size of the next weekly one. Two thirds of these contracts are calls, in other words bets on rising prices. How they are spread across the strike prices says more about sentiment on the derivatives market than any survey, and it reveals an imbalance that can weigh on the price over the next thirteen days. For where the price m...