Bitcoin Price Prediction: 140,844 BTC Expire on October 30, and What Matters Now at $80,000

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, 140,844 Bitcoin contracts worth $11.69 billion run out, and two thirds of them are bets on higher prices. At both expiry dates the largest hedge sits at $80,000.On October 30, 140,844 Bitcoin contracts expire on the options exchange Deribit. At a price of $82,977 on Saturday afternoon that is $11.69 billion in notional value, and two thirds of it are bets on higher prices. The largest of them sits at $95,000, a good 14 percent above today's level. Arithmetically, an expiry at $78,000 would be cheaper for the other side. The rest of the month plays out between those two numbers, and the level where the direction is decided is $80,000. An options expiry is not an event that moves the Bitcoin price by itself. It does change how expensive hedging is and how many contracts the option writers still carry on their books as the date approaches. Anyone buying, selling or hedging over the coming three weeks meets a market whose positioning is already visible today. This art...