Data shows Bitcoin bears dominate Friday's $2.5B BTC options expiry

[Pluto25]

Bears have a potential $450 million lead if Bitcoin fails to hold $32,000 until June 25.Bitcoin (BTC) price dropped roughly 22% over the past 7 days, retesting the $31,700 area for the second time in June. The most pressing news for the negative performance has been China supposedly cracking down bank accounts of over-the-counter desks, according to some analysts:
However, as reported by Cointelegraph, Bitcoin's hash rate dropping nearly 50% to an 8-month low could also have played a vital role in the price correction. Not even MicroStrategy's recent $489 million purchase was enough to sustain the $35,000 support.
The movement raised suspicions that the June 25 options and futures expiry could also be behind the move. After all, this month will potentially settle $2.5 billion worth of options and another $2 billion in futures contracts.
Currently, the CME futures represent nearly half of the futures open interest, although historically, most investors roll over their position during the last week of trading.source