Bitcoin Options Expiry - Another Freaky Friday?

We are approaching yet another "last Friday of the month", which means options expiry day.

It is not always a dramatic day, but the risk of volatility is always higher and, even if it doesn't materialise, it is worth checking one's market positions.

Last month saw BTC rise some $4k on expiry day, bouncing off the then 50 SMA. This time is slightly different as we sit some $2k below the current moving-average.

This article suggests the bears are in the ascendancy.

This post, earlier this month, suggests that Bitcoins are being moved off-exchanges because USDT is now the preferred quoted cross-currency. We have experience of this, as BLURT/BTC struggles to move upwards even though in USD terms BLURT has doubled, on average, in the last month.

I think this depends on what is classed as an "exchange" compared to other custodial services. Unless you're mining, Bitcoin itself generates no yield, and I suspect that a lot of BTC is being held to construct such yield-baring instruments.

Anyway, add rising fees to lower liquidity plus options expiry and we should be in for a freaky Friday!