Bitcoin, Ethereum Tank as $4 Billion in Options Expire. Here's Why

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The top two cryptocurrencies are struggling today as a record number of ETH options contracts expire. Bitcoin, Ethereum and the wider market have taken a big hit in the past 24 hours. The two biggest cryptocurrencies are down 7.6% and 8% respectively in the past day. Could it be related to the $3.8 billion (at today’s prices) in options contracts that just expired?. Well, yes and no, according to experts.
Bitcoin and Ethereum options are derivatives contracts that provide buyers with the right—not the obligation—to buy the assets at a certain price in the future. When options are set to expire, the market can become volatile. This is because would-be traders will either continue to hold or dump their potential crypto buys.source