Meanwhile, bitcoin’s price as the market approaches Friday’s expiry of bitcoin options contracts could fuel an additional price increase, or send it spiraling in the immediate aftermath. “If bitcoin builds momentum above $30,000 as expiry approaches, dealers will buy the cryptocurrency in the spot and futures markets,” CoinDesk Co-Managing Editor of Markets Omkar Godbole wrote. “That, in turn, could lead to an exaggerated price rally, often called a gamma squeeze, or sling-shot effect. On the flip side, dealers will be forced to sell on a potential decline below $30,000.”
