The looming expiration of over $10 billion in Bitcoin and Ethereum options contracts is creating a stir in the cryptocurrency market, leading to heightened volatility as traders adjust their positions. The put-to-call ratio for Bitcoin options suggests a bullish sentiment, with more traders holding long positions. However, the expiration of these contracts often results in market fluctuations, contributing to the current price dynamics. Additionally, the recent announcement of tariffs by President Donald Trump's administration on China, Mexico, and Canada has added pressure to the cryptocurrency market, further influencing Bitcoin's price movement.
The 2x Bitcoin Strategy ETF (BITX) is currently priced at $59.25 as of 9:00 AM on Saturday, February 1.