53,400 bitcoin options expire on May 28
Deribit, OKEx and Bit.com options expire on Friday, May 28 at 8:00 am GMT. And CME futures and options will expire at 15:00 UTC.
After Bitcoin plunged 33% in May, the right to purchase BTC at $46,000 or more has become useless as there are less than 20 hours left before the options expire.
Earlier it was reported that May 28 will not differ from previous days on the exchange, with an open interest of $1.95 billion. However, traders who play on the price decrease and deliberately bring it down to the minimum levels, most likely, will continue to put pressure on the markets.
After briefly finding the rate above $42,000, Bitcoin received another correction on May 20 after the Chinese government announced plans to limit Bitcoin mining.
On May 23, Huobi Exchange suspended trading in mainland China futures. This triggered a further drop in Bitcoin below $32,000.
Last week, the earnings from the expiration of options created an opportunity for traders to continue to bet on the bitcoin price that remains below $45,000 or $50,000.