This is what happens to Bitcoin when options expire each month.
The biggest ever Bitcoin options expiry is due on March 26. Over $6 billion worth of Bitcoin options will expire across exchanges on Friday, at 4pm UTC to be precise. This will be a record expiry in terms of the value and number of options, a total of 100,400 Bitcoin options will expire. The previous record was set in January when nearly $4 billion worth of options expired, representing 36% of the open interest at the time.
But after each expiry this happens. So strap on for some serious action next week and beyond.
submitted by /u/TheGreatCryptopo