According to Crypto trader Mags, Bitcoin, the flagship cryptocurrency, has recently demonstrated a notable +55% surge, breaking out from a smaller broadening wedge pattern. Mags shared insights on this significant price movement, observing Bitcoin’s breakout and suggesting a mid-term target at the “upper trendline resistance of a larger broadening wedge.” This surge notably results from several catalysts in play, such as the surging interest of institutional investors and the US approval of spot Bitcoin Exchange-Traded Funds (ETFs). Related Reading: Bitcoin Price Struggles Below $48K, Why BTC Could Correct Lower Upcoming Options Expiry Impact’s Bitcoin Price However, Bitcoin has seen a slight downturn following its recent surge over the past 24 hours. Despite being significantly up over the past month, the asset has declined by nearly 10% in the past day, with its current trading volume slightly decreasing to $44 billion from over $50 billion yesterday. This sudden dip can largely be attributed to the imminent expiration of options. According to the options trading platform Greeks.live, a substantial 36,000 BTC options are set to expire soon, featuring a Put Call Rat ..
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