<span style="font-weight: 400">Bears aspire linking Bitcoin under $60K before Friday's $1.1 billion options expiry. In the past week, BTC bulls generated a benefit worth $715 million when the Bitcoin price was above $68,000. But, the ongoing downturn opportunities to turn the tables.</span>
<h2><span style="font-weight: 400">Bears Aspiring to Link Bitcoin Under $60K </span></h2>
<span style="font-weight: 400"><a href="https://www.cryptoknowmics.com/news/portal-and-polygon-enter-strategic-partnership-to-boost-bitcoin-usability-in-defi-ecosystem/">Bitcoin</a> (BTC) bulls were jubilant as soon as the price mounted to $69,000 on November 10. This is due to the 14.5 percent gain assembled in the last five days. The mounting in price means NTC bulls were in a $715 million profit on November 12's options expiry.</span>

<span style="font-weight: 400">On November 16, the 9 percent negative price acquired bulls' attention, surprising them especially as the <a href="https://globalonlinemony.com/heres-why-bears-hope-to-pin-bitcoin-under-60k-ahead-of-fridays-1-1b-options-expiry-by-cointelegraph/">majority</a> of the call (buy) options for November 19 have been placed at $66,000 or higher. Adversely, that inflation is exceptional rather than the norm. </span><span style="font-weight: 400">Bears are fortunate enough as the two negative incidents took shape in the past few days. On November 12, the United States Securities and Exchange Commission debunked VanEck's spot Bitcoin ETF request. </span>
<h2><span style="font-weight: 400">Disability to Prevent Duplicity And Market Manipulation</span></h2>
<span style="font-weight: 400">The SEC specifically highlighted the doubts about Tether's (USDT) stable coin. Also, SCE showcased the disability to prevent duplicity &amp; market manipulation in Bitcoin trading. Eric Balchunas - Bloomberg superior ETF analyst and cryptocurrency authority had already specified a 1 percent chance for approval so the dissent was oblivious.</span>

<span style="font-weight: 400">Additionally, on November 15, US president Joe Biden authorized the infrastructure bill. The bill which injunctions digital asset transactions (starting in 2024), worth more than $10,000 be outlined to the Internal Revenue Service.</span>

<span style="font-weight: 400">Eying the above framework, bulls are most likely to lament over their lack of conservative bets on November 19's $1.1-billion weekly options expiry. The $630 million call (buy) options bestride the weekly expiry by 35 percent in comparison to $470 million puts (sell) instruments. Soundless, the 1.35 call-to-put ratio is illusory because the recent price crash is sure to massacre the majority of bullish bets.</span>

This is Why Bears Aspire Linking Bitcoin Under $60K Before Friday's $1.1Bn Options Expiry

Bears aspire linking Bitcoin under $60K before Friday's $1.1B options expiry. In the past week, BTC bulls generated a benefit worth $715 million when the Bitcoin price was above $68,000. But, the ongoing downturn opportunities to turn the tables.

Gitumani is a blockchain enthusiast as she keeps a tab on the recent happenings pertaining to the crypto industry. She aims to provide quality content in blockchain and crypto domain. She is a financial content writer too and has worked on several financial projects related to the stock market news, fundamental research, and technical analysis for several websites.

This is Why Bears Aspire Linking Bitcoin Under $60K Before Friday's $1.1Bn Options Expiry

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