Bitcoin Options Market Faces Record $1 Billion Expiry on Friday
The cryptocurrency’s options market is on its way to a record $1 billion monthly expiry this Friday.
Bitcoin chalked out minor price gains on Sunday, ending its longest run of daily losses for half a year and avoiding a break below the ongoing restricted trading range.
The Compound token almost fell back below $200 earlier this week, before Coinbase rode to the rescue. It listed the token for retail users, and gave COMP a nice price bump.
Bitcoin is still outperforming the top traditional financial assets so far in 2020 – even after a dour performance this month.
The narrative that inflation arising from the massive coronavirus stimulus efforts would lead to a long-term rise in bitcoin's price is looking weak with new data from the Federal Reserve.
Bitcoin looks set to end its three-quarter losing run despite having dropped to $9,000 earlier on Thursday.