Bitcoin Rises Over 1%
Bitcoin rose over 1% to above 88,000 on Friday, as traders braced for a significant year-end reset with more than $27 billion in crypto options contracts set to expire today. The expiry includes $23.3 billion worth in Bitcoin options and $3.7 billion in Ethereum options.
Despite the rise, the cryptocurrency remains in a consolidation phase near November’s lows, as market sentiment stays cautious. Sentiment has been trending down since early October when renewed US-China tariff concerns triggered a sharp sell-off.
Bitcoin has fallen nearly 30% since then and is on track to close the quarter with a roughly 22% loss, marking its worst quarterly performance since the second quarter of 2022, a period marred by the collapses of TerraUSD and Three Arrows Capital. Other tokens also saw gains, with Ether rising more than 1% and Solana up over 2%
Source: Trading Economi