Cryptocurrency Market News: Around 87,000 Bitcoin Options set to expire this Friday

Here is what you need to know on Wednesday 23, September

BTC/USD is trading at $10,500 after a small bounce from yesterday’s crash, however, it seems that the daily chart could be forming a bear flag.

ETH/USD is doing something similar at $343 waiting for a bigger bounce as the market sentiment turns to fear.

XRP/USD is staying above $0.23 which is a significant support level. A breakout of this level would most likely take XRP down to $0.20

Chart of the day: BTC/USD daily chart

btc price


The market will be volatile this week as a massive number of Bitcoin and ETH options are set to expire on Friday. Deribit, which has 77% of this volume, as it is the biggest derivatives exchange, also has around 414,000 ETH options, which is 90% of the total 459,000 ETH options across all platforms including CME, Okex or Ledgerx.

Usually, an expiry of a large number of options means a spike in volatility. It’s unclear if the price of Bitcoin and Ethereum will go up or down as sometimes even the volatility doesn’t really change. 


Bread (BRD) intends to provide anti-money laundering services, fraud detection and other compliance tools for cryptocurrency businesses but also financial institutions and government agencies. 

Adam Traidman, CEO of Bread told CoinDesk in an interview that BRD will use its Blockset services primarily for banks and other financial institutions adding:

Layering these crucial applications on top of Blockset allows us to offer a comprehensive, broad-use offering to financial institutions from a single platform. This also enables our enterprise customers to address many use cases across all their crypto projects from a single vendor

Quote of the day

Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.

– Marc Kenigsberg


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Ethereum price breaks $600 in anticipation of ETH 2.0’s launch in December

Ethereum is currently trading at $601 after finally breaking the psychological barrier at $600 for the first time in two years. At the time of writing, around 305,920 ETH has been staked in the Eth2 deposit contract, representing 58% of what's needed for the contract to launch. 

More Ethereum News

Overhyped Linkswap launch sends YFI and LINK soaring

Linkswap, a platform for automated market-making, has not been even launched, but its proprietary token YF Link (YFL) jumped by over 30% in the past 24 hours. At the time of writing, YFL is changing hands at $1,030.

More Chainlink News

OKEX withdrawals to trigger a massive volatility spike on the cryptocurrency market

OKEx, one of the world's largest cryptocurrency exchanges, is ready to unlock a cryptocurrency withdrawal functionality on November 27. The trading platform users had to wait over a month until the company settled its legal issues and the Chinese police released one of its co-founders and a private key holder. 

More Cryptocurrencies News

Bitcoin final leg to $20,000 lingers, as crypto bull cycle rockets

Cryptocurrencies across the board had a memorable weekend session, with most of them rallying to new yearly highs. Ethereum, for instance, hit highs of $585 for the first time since 2018. On the other hand, Ripple brushed shoulders with $0.5.

More Bitcoin News


Bitcoin Weekly Forecast: BTC makes new yearly highs while its network activity looks worrisome

Bitcoin has lived through the best week since February 2018. The pioneer digital currency price gained over $2,000 in less than seven days. The bullish momentum allowed it to reach a new multi-year high of nearly $18,800, marking November 2020 one of the strongest bullish months ever. 

Read the weekly forecast