Bitcoin holds $30K as bulls flaunt their advantage in Friday’s $715M BTC options expiry
News of regulatory enforcement against the crypto sector fell to the wayside as Bitcoin price rallied above $30,000, and options data suggests the trend will continue. Bitcoin's (BTC) 15% rally toward $30,300 between June 19 and June 21 caught most traders by surprise, triggering $125 million in liquidations of leveraged short futures contracts. Narrowing down the trigger for the rally is complicated, but some analysts point to the potential inflow of institutional investors if Blackrock’s exchange-traded fund (ETF) application gets regulatory approval. BlackRock just filed with the SEC to create a spot #Bitcoin ETF. Given their reputation, this has the highest likelihood of happening out of all the attempts at a spot ETF so far. The institutional liquidity floodgates may finally open https://t.co/c9g2Ten1h8 pic.twitter.com/L2NmXq11gL — Joe Consorti (@JoeConsorti) June 15, 2023 ARK Invest CEO and chief investment officer Cathie Wood explained the rationale for the firm’s bulli...