Bitcoin Slips to $83,600 After $15.6B Options Expiry as XRP and Solana Outperform
- —Bitcoin dropped 0.9% to $83,600 after hitting an intraday high near $87,000
- —$15.6 billion in Bitcoin options expired on Deribit
- —Open interest fell 14.39% and 24-hour volume dropped 13.68%
- —XRP rose 15.45% on the week to $1.58, Solana gained 9.33% to $119.84
Why it matters: The options expiry and falling open interest point to leverage resetting rather than a trend reversal; September PCE data on September 30 will set the next direction.
Source: Decrypt