Why the Market is Down with Bitcoin Options Expiring
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- The crypto market cap bounced at a support level after breaking out from the $1.04 trillion resistance area.
- A large volume of Bitcoin options is set to expire today (February 24th) at around 4 pm UTC.
- The last major contract expiry occurred late in December of 2022.
The crypto market cap has fluctuated within a key resistance area but remains above the recently validated $1.04 trillion support level. The possibility of a bearish reversal remains as traders closely monitor the put/call ratio, with many Bitcoin options set to expire today. These are the things that you should be looking out for.
Support Validation and Bearish Divergence...
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