Bitcoin Bulls On the Driving Seat in Friday's Options Expiry
Bitcoin is currently flirting around $30,000 levels after making strong gains earlier this week. As of press time, BTC is trading at $30,015 with a market cap of $582 billion. advertisement BlackRock has put its foot in the door with its spot Bitcoin ETF application, thereby triggering a major euphoria in the crypto market. “An approval would profoundly impact the market structure of Bitcoin, as it would reduce the barriers for financial advisers to offer exposure” to the token, Vetle Lunde, senior analyst at K33 Research, wrote in a note. Cathie Wood, the CEO and chief investment officer of ARK Invest, provided insights into why the firm is optimistic about the price of Bitcoin and has set a target of $1 million. Wood believes that Bitcoin has the potential to outperform even in a deflationary environment due to its ability to address the counterparty risk associated with the traditional financial system. Bitcoin Options Expiry, Bears Guard Off-Guard...