$BTC Options Open Interest Drops Post January Expiry, Traders Eye Potential Upside
Following the expiration of January Bitcoin options last week, cryptocurrency derivatives trader Gordon Grant notes a significant reduction in option open interest. The decline, from a record high of over $13 billion to $9.88 billion, is seen as a potential support for an upward BTC trend. Grant dismisses earlier bearish predictions of a BTC correction to $33,600, emphasizing the absence of such a decline. As traders analyze market dynamics post-options expiry, there is anticipation of possible positive price action for Bitcoin in the coming days.
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