BTC Option Expiry

Bitcoin leverage ratio peaked to an all-time high yesterday and the Bitcoin options expiry of $6 billion approaches this Friday: these two factors have caused Bitcoin to scramble for support. Currently, Bitcoin is resting at $47,000 below EMA 20 indicating a volatile bearish trend. There are chances for Bitcoin to test the support of $4500, fib 1.272 on Friday. The resistance remains at the high of December 27 at $52000.