something big is coming in this Friday!!!
This Friday, on Dec 26, over $23.6 BILLION worth of Bitcoin options expire.
Option expires means are leveraged bets on price. Calls bet BTC will be higher, and puts bet BTC will be lower.
When they expire, one of two things happens:
@They expire worthless
@ Or they force hedging, buying, or selling in the spot market
With $23.6B rolling off at once, a huge amount of risk comes off dealer books in a single day.
