Bitcoin's Price Dived Slightly on the Settlement of July Options, Could it Be Price Manipulation.
10 Aug 2021, 08:00
Bitcoin’s Price Dived Slightly on the Settlement of July Options, Could it Be Price Manipulation?
The last decade has been pretty eventful for the crypto market as innovations popped up following Bitcoin’s debut in 2009. What started as a revolution against the traditional financial ecosystem has grown into a $1.6 trillion market as of press time. This trajectory is expected to continue, with analysts predicting Bitcoin could go as high as $100K by December 2021.
Some of these predictions are based on Bitcoin options contracts that expire at the end of 2021. While not everyone agrees that Bitcoin options expiry affect market prices, historical price action shows that Bitcoin’s price has been volatile around option expiry dates. Most of the options contracts in crypto are settled on the last Friday of the month – at this time, the market is volatile, at least for the previous few months.