Bitcoin (BTC) Hits Resistance Wall: Will Options Expiry Spark a Major Drop?

The Bitcoin (BTC) price has so far been rejected from the key $117,500 horizontal resistance ￰0￱ a ‘triple witching’ options expiry due on Friday, could Bitcoin drop to much lower levels? Triple witching event - $5.3 trillion options expiry In traditional finance, triple witching is the name given to the quarterly event where stock options, stock index futures, and stock index options all expire on the same ￰1￱ particular witching event is due to be a record-breaker, with more than $5.3 trillion in options ￰2￱ the sheer size of Friday’s expiration, trading volume is likely to spike, leading to huge volatility, and there is a chance that some kind of sell-off could take place in US ￰3￱ Bitcoin probably feeling any sizable downward moves in traditional financial markets, its recent rejection from the major $117,500 resistance could turn into a steeper downside ￰4￱ this is without even discussing the crypto market’s own options ￰5￱ this expiration is ‘only’ a notional $3.4 billion, it could also cause a sharp drop in the Bitcoin ￰6￱ pain is around the $112,000 ￰7￱ rejection for Bitcoin?