$6 Billion In Bitcoin Options Expire This Friday – March 25

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $52,986

Bitcoin price has plunged back below $53,000 today, erasing the entire advance made in yesterday’s price action and more.

Top-20 altcoins are down across the board, as Ethereum drops 6%, XRP falls 9% and Uniswap takes the biggest hit with a 13% plunge.

Top Stories for March 25, 2021 πŸ”₯

πŸ‘‰ $6 Billion In Bitcoin Options Expire This Friday

A record $6 billion worth of Bitcoin options contracts are set to expire this Friday, in an event that has traders wary of possible volatility.

Analysts have pinned $44,000 as the “max pain” price level – the price at which most of the options contracts would expire worthless.

The theory around max pain levels is that price tends to drift toward that level at expiry, with price currently appearing to be heading in that direction.

πŸ‘‰ Fidelity Investments Files For Bitcoin ETF

An application for a Bitcoin ETF was filed yesterday with the Securities and Exchange Commission (SEC), allegedly by asset management giant Fidelity.

The filing has FD Funds Management LLC as the sponsor of the fund, with the company sharing the same address as the Fidelity headquarters in Boston.

πŸ‘‰ NFT Artist Beeple Dumps $53M In Ether Proceeds For USD

NFT artist Beeple, who received $53 million in Ether for his record-breaking NFT sale earlier this month, has sold all of the proceeds for US dollars.

Beeple claimed that he “absolutely” thinks NFTs are a bubble, comparing the market to the early days of the internet.