Українська
Русский
English
Bitcoin Falls Below $110,000 Amid Options Expiry
Bitcoin dropped below $110,000 on Friday, marking a sharp weekly decline as crypto options worth about $22 billion expire and investor sentiment remains cautious ahead of key U.S. inflation data.
The world’s largest cryptocurrency traded down 1.8% at $109,552.6 as of 1:20 p.m. Moscow time, after earlier dipping below $109,000 to a six-week low.
The token is expected to fall more than 5% this week, while other altcoins are also poised for significant weekly losses.
Options Expiry Pressures Bitcoin
The options expiry scheduled for 11:00 a.m. Moscow time on Friday marks the end of the third quarter, adding downward pressure on Bitcoin and other cryptocurrencies.
According to derivatives exchange Deribit, Bitcoin options worth more than $17 billion are set to expire, with a large portion concentrated in bullish contracts.
Reports indicate that such major expirations could heighten price volatility, especially if support levels fail to hold.
Earlier this week, Bitcoin’s decline was linked to a wave of liquidations in the derivatives market, which wiped out around $1.5 billion from crypto markets.
Reports also noted that the selloff was amplified by traders holding directional bets through options contracts that profit from sharp swings, underscoring ongoing volatility.
Focus on Fed Rate Outlook; PCE Data Ahead
Additionally, recent U.S. economic data weakened expectations for aggressive rate cuts by the Federal Reserve.
On Thursday, Q2 GDP growth was revised upward to 3.8% annually, fueling speculation that the central bank may take a more cautious approach to monetary easing.
Investors now await the release of upcoming PCE inflation data for further guidance on the Fed’s policy stance.
Crypto Miner TeraWulf Seeks $3 Billion for Data Center Expansion
TeraWulf Inc (NASDAQ: WULF) plans to raise about $3 billion to finance the expansion of its data centers through a structure backed by Google (NASDAQ: GOOGL), CFO Patrick Flury told Bloomberg.
Bloomberg reported that Morgan Stanley is arranging the potential deal, which may come through the high-yield bond market or leveraged loan market.
Crypto Prices Today: Altcoins Decline, Ether Near 7-Week Low
Most altcoins also fell Friday, setting up steep weekly losses.
Ethereum, the world’s second-largest cryptocurrency, dropped 1.9% to $3,922.83, remaining near its lowest level in seven weeks. Ether is expected to fall more than 12% this week.
XRP, the world’s third-largest cryptocurrency, fell 3.4% to $2.75.
Solana slipped 4%, Cardano lost 2.4%, and Polygon dropped 1%.
Among meme tokens, Dogecoin fell 3%, while $TRUMP slipped 1.3%.
See also: "Ether Falls Below $4,000 for the First Time Since Early August"
