Bitcoin price briefly clears $31K as monthly, quarterly close nears
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.
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The article provides a neutral analysis of Bitcoin's recent price movements and the impact of the open interest expiry.
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