Bitcoin bulls aim to hold this week’s BTC gains leading into Friday’s $675M options expiry
$675 million in BTC options are set to expire on Feb. 17, but bears could aim to take control by pushing Bitcoin price below $22,000. While the U.S. Federal Reserve (FED) continues to monitor the overheated economy, the most likely scenario is further interest rate hikes to curb inflation. The unintended consequence is the heightened government debt cost, creating a bullish environment for scarce assets such as commodities, stock market and cryptocurrencies. Bitcoin’s price gain practically extinguished bears expectation for a sub-$21,500 options expiry on Feb. 17, so their bets are unlikely to pay off as the deadline approaches. Bitcoin investors' primary concern is the possibility of further impacts from regulators following the staking rewards program by the Kraken exchange being halted by the U.S. Securities and Exchange Commission on Feb. 9 and the crackdown on Binance USD (BUSD) stablecoin issuing on Feb. 13. Even if the newsflow remains negative, bulls still can profit in ...