Bitcoin price briefly clears $31K as monthly, quarterly close nears

Cointelegraph
Cointelegraph

30 Jun 2023 8:18 AM

Bitcoin volatility catalysts line up with BTC price spiking past $31,000....

  • Bitcoin (BTC) experienced a spike, reaching $31,268 on Bitstamp, as a $6 billion open interest expiry approached.
  • Analysts were interested in the impact of the quarterly options expiry on the market and whether the open interest was call or put dominant.
  • June 30 was an important date for BTC traders, with the options expiry being one of several significant events.
  • Traders were looking for a close above $29,255 to confirm a breakout on monthly timeframes and focused on quarterly resistance at $28,872.
  • Bitcoin's Q2 gains were at 8%, significantly lower than Q1's performance of over 70%.
  • Some traders hoped for new local highs, with a primary target of $32,000.

The article provides a neutral analysis of Bitcoin's recent price movements and the impact of the open interest expiry.

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You May Ask

What was the price of Bitcoin during the spike on June 30?What were analysts interested in regarding the quarterly options expiry?What were some key events for BTC traders on June 30?What were the Q2 gains for Bitcoin and how did they compare to Q1's performance?What was the primary target for some traders in terms of Bitcoin's price?

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