Bulls have been said to have the upper hand as the Bitcoin market gets prepared for a $10.1 billion options expiry.
Analysts explain four different outcomes that could happen under four scenarios by 8:00 am ET on December 29.
At exactly 8:00 am ET on December 29, a fierce battle for dominance between bulls and bears would be decided as the Bitcoin market gets ready for a $10.1 billion options expiry. According to data, crypto bulls could definitely seize control, however, bears could take the Bitcoin price to below $42k in a bid to minimize their losses. Analysts believe that both market participants have what it takes to influence Bitcoin’s spot price. However, the expiry price can be used to guess the outcome. 
According to the data, Deribit, a leading option market, has a $7.7 billion open interest with the Chicago Mercantile Exchange (CME) having $1.38 billion. OKX comes third with $630 million open interest. The bullish option is reported to have an edge due to the potential ap

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