Why the Crypto Market Is Down Today? Bitcoin, Ethereum, and XRP Price Lead Massive Drop — TradingView News
Bitcoin, Ethereum, XRP, and other major altcoins tumbled as the crypto market shed over $200 billion in value. In just 24 hours, more than $1.2 billion in long positions were liquidated, sending shockwaves across traders. The crash came right before a massive Bitcoin and Ethereum options expiry worth over $16 billion, leaving investors anxious about what’s next.
Options Expiry Triggers Profit-Taking
The latest dip appears to be driven by traders and large institutions taking profits ahead of the October 31 options expiry. Data from CME and Deribit indicate that these derivative contracts have a strong influence on short-term price movements.
On Deribit alone, over 123,000 Bitcoin options worth $13.52 billion are set to expire. With a…
