Bitcoin's $56K support at risk ahead of options expiry

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The Bitcoin price could experience significant downside volatility unless it manages to recover above $60,000 before the options expire on Aug. 16.

The upcoming crypto options expiry is threatening to add a significant amount of Bitcoin sell pressure that could take the price below another key support level.

Over $1.4 billion worth of Bitcoin options are set to expire on Aug. 16 at 8:00 am UTC, according to Deribit. This sets Bitcoin’s “max pain point” to $60,000, which indicates the price at which most options contracts would expire worthless.


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