Bitcoin price prediction: 18,029 contracts expire Friday, and the level that decides is $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 Friday 18,029 Bitcoin options run out on Deribit, the calculated max pain sits at $83,000 and therefore $2,229 above the price. The spread of open contracts shows why the $80,000 level matters more on this expiry day than the $83,000 figure.On Friday, October 16, 18,029 Bitcoin contracts expire on the options exchange Deribit. The calculated pain point of this expiry sits at $83,000, while the price on Thursday afternoon was $80,771. That leaves $2,229 between the market and the level at which options buyers collectively gain the least. Whether the gap closes on Friday is not for the expiry alone to decide, and the structure of the open contracts explains fairly precisely why. Bitcoin traded at $80,771, or 72,029 euros, at around 2:50 pm German time on October 15, down 2.46 percent over 24 hours (source: CoinGecko). The high of the day was $83,005, the low $80,444. Over a week the loss stands at 2.12 percent, and the price is 35.9 percent below the record of $126,080 set on O...