Bitcoin Slumps to Near March Low Amid $14 Billion Options Expiry

The price of Bitcoin has retreated to near its March low as $14 billion in options are set to expire on Friday. This significant event is expected to have an impact on the cryptocurrency's market value, with some experts predicting a volatility spike once the expiry clears.

According to Coinglass data, $172.6 million in Bitcoin long positions were liquidated over the past 24 hours, while $11.7 million in short positions were liquidated during that period. Overall crypto liquidations reached $440 million, with nearly $389 million in long positions liquidated.

Cathie Wood's ARK Invest firm has been reducing stock holdings and rotating into cash over the past few days. The firm made purchases of Tempus AI (TEM) stock on Wednesday and Thursday, but trimmed its holdings in other stocks such as Archer Aviation (ACHR), Bullish (BLSH), and Recursion Pharmaceuticals (RXRX).