Bitcoin is bracing for a massive $ 4 billion earthquake this week

Bitcoin struggled to maintain momentum in the second half of January after its mega start to the year.

Bitcoin price has stabilized (even as other smaller cryptocurrencies continue to rise) as concerns over a ballooning Bitcoin bubble mount.

Now, with excitement building up ahead of the highly anticipated “Bitcoin Corporate Strategy” hypothetical summit in the first week of February, Bitcoin options are set to expire close to $ 4 billion on Friday, January 29th.

More from Forbes after the massive bitcoin price boom, here’s why February could be so big for Bitcoin

Bitcoin price has traded sideways since it peaked in early January at more than $ 40,000 per bitcoin.

Agence France-Presse via Getty Images

Bitcoin options contracts – which allow investors to buy or sell cryptocurrency at a specified price over a specified period of time – worth about 107,000 Bitcoins, or $ 3.5 billion in today’s prices, will expire Friday, according to data from the cryptocurrency analytics provider bybt.com. The expiration date of the upcoming options is much more than the previous record of $ 2.4 billion, which was set in late December.

Trading data shows that speculators are optimistic about Bitcoin, despite recent surveys that indicated Wall Street investors believed bitcoin looked like a bubble. Currently there is more open interest in “call options” – betting that the bitcoin price will rise – than interest in “placing” – betting that the price will decrease.

The looming expiration of standard options in Bitcoin could trigger a bout of price volatility, with previous large expiration periods catching investors’ attention and the open interest market size for Bitcoin recently surging – more than doubling since the summer.

Bitcoin’s rally over the past few months, rising by nearly 250% since October, has failed to moderate extreme volatility, as Bitcoin’s price regularly swings by more than 10% over the 24-hour trading period. Bitcoin’s price is currently over 20% from its early January high of just over $ 40,000.

More FORBES Why Ethereum Reaches All-Time High With Flat Bitcoin Price

Bitcoin options worth $ 3.5 billion are set to expire on January 29.

Via bt.com

Last week, survey data revealed that investors fear bitcoin could halve over the next year, as 50% of respondents to a Deutsche Bank survey gave Bitcoin a 10 on a scale of 1 to 10 bubbles. Bank of America BAC said Bitcoin is currently the busiest trade in the world among surveyed investors, driving technology stocks out of first place for the first time since October 2019.

Elsewhere, analysts at Wall Street giant GBMorgan GBM have warned that bitcoin may exit unless the price regains its highs of $ 40,000 soon.

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