Bitcoin, the world’s largest cryptocurrency, is set to see significant gains following a record-breaking $24 billion options expiry on Boxing Day. This event has lifted the “lid” on Bitcoin’s price, with experts predicting a surge towards the $100,000 mark in the near future.
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According to a report by CoinTelegraph, the options expiry worth $23.7 billion is expected to have a substantial impact on Bitcoin’s price trajectory. Investors and analysts are closely monitoring the market dynamics post-expiry, anticipating a bullish trend for Bitcoin in the coming weeks.
The surge in Bitcoin’s price comes amidst growing institutional interest in the cryptocurrency, with major financial institutions and corporations increasingly embracing Bitcoin as a store of value and a hedge against inflation. The recent options expiry is seen as a significant milestone in Bitcoin’s journey towards mainstream adoption and recognition as a legitimate asset class.
In a related development, Ethereum, the second-largest cryptocurrency by market capitalization, is facing pressure as a $6 billion options expiry approaches at the end of the year. ETH options data indicates that investors are seeking downside protection, signaling a sense of caution in the market.
The Treasury Department’s recent guidance on rounding cash transactions to the nearest nickel has also garnered attention, as the penny shortage in the United States continues to impact businesses and consumers. The shortage, stemming from the halt in production of one-cent coins during the Trump administration, has prompted calls for clearer guidelines on pricing practices.
Overall, the finance world is abuzz with activity as cryptocurrencies like Bitcoin and Ethereum experience significant market movements, while traditional financial systems grapple with challenges such as coin shortages and regulatory uncertainties. The coming weeks are poised to be crucial for the crypto market, with experts closely monitoring price trends and investor sentiment.
In conclusion, the record options expiry for Bitcoin and the impending expiry for Ethereum, along with the Treasury Department’s guidance on rounding prices, are shaping the financial landscape as we head into the new year. The intersection of traditional finance and digital assets continues to evolve, presenting both opportunities and challenges for market participants.
#Bitcoin #Ethereum #FinanceTrends #DigitalAssets #Cryptocurrency
References:
– Bitcoin due gains after record $24B options expiry lifts ‘lid’ on BTC price. (2021, December 27). CoinTelegraph. https://cointelegraph.com/news/bitcoin-due-gains-record-24b-options-expiry-lifts-lid-btc-price?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
– Ethereum price under pressure as $6B options expiry nears. (2021, December 27). CoinTelegraph. https://cointelegraph.com/news/ethereum-price-under-pressure-6-billion-options-expiry?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
– With pennies scarce, Treasury weighs in on rounding prices. (2021, December 27). American Banker. https://www.americanbanker.com/news/with-pennies-scarce-treasury-weighs-in-on-rounding-prices
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