We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Bitcoin Is Braced For A $6 Billion Earthquake As A Crypto Price Crash Hits Ethereum, BNB, Solana, Cardano And XRP
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Bitcoin Is Braced For A  Billion Earthquake As A Crypto Price Crash Hits Ethereum, BNB, Solana, Cardano And XRP
The Tycoon Herald > Crypto / NFT > Bitcoin Is Braced For A $6 Billion Earthquake As A Crypto Price Crash Hits Ethereum, BNB, Solana, Cardano And XRP
Crypto / NFTMoney

Bitcoin Is Braced For A $6 Billion Earthquake As A Crypto Price Crash Hits Ethereum, BNB, Solana, Cardano And XRP

Tycoon Herald
By Tycoon Herald 6 Min Read Published December 30, 2021
Share
SHARE

Bitcoin and cryptocurrency prices have dropped this week, wiping over $200 billion in value from the combined crypto market—despite some bold bitcoin price predictions.

Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains’

The bitcoin price has fallen around 6% since Monday, dropping from around $52,000 per bitcoin to under $46,000 before recovering slightly. Meanwhile, other major cryptocurrencies including ethereum, Binance’s BNB, solana, cardano and XRP have also moved lower, with XRP losing almost 20% of its value during the last week.

Now, bitcoin traders are braced for option contracts worth more than $6 billion to expire on News Year’s Eve—one of the largest options expiries this year that could fuel price volatility.

Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday

MORE FROM FORBESElon Musk Reveals Bitcoin Creator Satoshi Nakamoto Theory, Admits He Doesn’t ‘Get’ Ethereum And Issues Dogecoin Mars Prediction Amid Crypto Price CrashBy Billy Bambrough

MORE FOR YOU

The bitcoin and cryptocurrency market has swung wildly over the last six months with the bitcoin … [+] price climbing from under $30,000 per bitcoin to almost $70,000 before dropping back to under $50,000.

AFP via Getty Images

It’s thought the large bitcoin options expiry could spark a bout of price volatility, with previous large expiries catching investor attention, and analysts flagging the expiry as a cause of concern among already nervous investors as investors choose to either double-down on risky bets or unwind their positions.

“Whilst bitcoin’s overall trading volumes were consistent, a total of 129,800 option contracts (with value of just over $6 billion) are set to expire on the 31st December which is believed to be fuelling overall wary sentiment for the short term,” Adrian Kenny, senior sales trader at the U.K.-based digital asset broker GlobalBlock, wrote in a note this week.

The bitcoin price is currently down by just over 30% from its November all-time high. While ethereum, the second-largest cryptocurrency after bitcoin, has fared less badly with a 20% decline from its peak, other smaller cryptocurrencies including Binance’s BNB, solana, cardano and XRP have seen steeper declines.

Around 130,000 bitcoin options contracts—bets on the future bitcoin price that allow traders to buy or sell the cryptocurrency at a specified price within a set time period—are set to expire on Friday, according to Skew data first reported by Coindesk.

It’s thought bitcoin tends to move toward the so-called max pain point in the lead-up to an options expiry, followed by a solid directional move in days after settlement due to traders pushing the spot price closer to the strike price at which the highest number of open options contracts expire worthlessly—creating maximum losses (max pain) for option buyers. The max pain point for New Year’s Eve’s options expiry is $48,000, according to data first reported by Coindesk from Cayman Islands-based crypto financial services firm Blofin.

Meanwhile, other market watchers nervously eyeing a slump in the price of bitcoin, ethereum, Binance’s BNB, solana, cardano and XRP have pointed to several crypto exchanges banning users from China on Friday following the country’s latest crackdown.

CryptoCodex—A free, daily newsletter for the crypto-curious

MORE FROM FORBESThe Biggest Bull In Bitcoin Made A Wild $6 Million Price Prediction as Ethereum Rivals Make Huge GainsBy Billy Bambrough

More than 120,000 bitcoin options contracts, worth over $6 billion, are set to expire on New Year’s … [+] Eve amid high volatility among bitcoin, ethereum, Binance’s BNB, solana, cardano and XRP prices.

Skew

“Bitcoin’s recent downturn came as the year draws to an end and several crypto exchanges gear up to implement a ban on users from China,” Joe DiPasquale, chief executive of bitcoin and crypto hedge fund BitBull Capital, said in emailed comments.

“The selling pressure has been mounting ahead of that ban as users from China seek to sell crypto and convert to fiat before the December 31 deadline. We can expect relief moving into the new year and a possible recovery drive. However, the sustainability of any recovery will depend on market sentiment and underlying dynamics at the time.”

In September, one of the largest bitcoin and crypto exchanges in China, Huobi, said it was working to a December 31 2021 deadline “to retire existing China user accounts” after a clutch of powerful Chinese government bodies issued a stern warning to exchanges.

News of China’s latest crypto clampdown tanked the bitcoin and crypto market in the spring, with the ban forcing China-based crypto miners—who use powerful computers to secure blockchain networks in return for freshly minted coins—to scatter around the world.

You Might Also Like

Triple Bother: Shepard Fairey, Damien Hirst, and Invader Be part of Forces for Monumental Exhibition at Newport Road Gallery | NFT CULTURE | NFT Information | Web3 Tradition | NFTs & Crypto Artwork

SPORT BNB Set to Shake the Sports World – Analysts Predict a $3–$5 Token Price by 2027

Residing Paycheck to Paycheck: 9 Genius Methods To Cease It Ceaselessly – Dollarsanity

10 Tricks to Reside Frugally After Retirement – Dollarsanity

Slimesunday’s Magnum Opus: ‘Banned from New York’ Blows the Lid Off Digital Censorship | NFT CULTURE | NFT Information | Web3 Tradition | NFTs & Crypto Artwork

TAGGED:MoneyThe Forbes Journal
Share This Article
Facebook Twitter Email Copy Link Print
Diddy Hit With Two Sexual Assault Lawsuits Day Earlier than Jail Sentencing
Entertainment

Diddy Hit With Two Sexual Assault Lawsuits Day Earlier than Jail Sentencing

DIDDY 2 NEW SEXUAL ASSAULT LAWSUITS ON SENTENCING EVE Revealed October 2, 2025 6:30 PM PDT Diddy is staring down one of many largest days of his life -- his…

By Tycoon Herald 2 Min Read
Nottingham Forest 2-3 Midtjylland: Ange Postecoglou nonetheless and not using a win as followers chant for him to be sacked
October 3, 2025
Jeffrey Toobin Says The Authorities Shutdown Is A Mess, No Finish In Sight
October 3, 2025
Ange Postecoglou ‘sacked’ chants: Nottingham Forest boss says workforce ‘on proper monitor’ amid fan backlash
October 2, 2025
Dwayne ‘The Rock’ Johnson’s ‘The Smashing Machine’ On ‘TMZ Film Tea’
October 2, 2025

You Might Also Like

Tips on how to Price range Your Money Utilizing Dave Ramsey’s Budgeting Percentages – Dollarsanity
Money

Tips on how to Price range Your Money Utilizing Dave Ramsey’s Budgeting Percentages – Dollarsanity

By Tycoon Herald 24 Min Read
How To Make A Funds: 12 Simple Methods To Do It (The Full Information) – Dollarsanity
Money

How To Make A Funds: 12 Simple Methods To Do It (The Full Information) – Dollarsanity

By Tycoon Herald 60 Min Read
10 Outdated-Normal Cleansing Suggestions from Grandma – Dollarsanity
Money

10 Outdated-Normal Cleansing Suggestions from Grandma – Dollarsanity

By Tycoon Herald 21 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
BusinessEntertainment

Neal Francis On New Album ‘In Plain Sight’ And The Chicago Blues Tradition

Pianist and singer Neal Francis celebrates the release of the new album 'In Plain Sight' during…

By Tycoon Herald
BusinessReal Estate

Bank On It: Change Transforming Manhattan’s East River Waterfront

Outdoor amenities at One Manhattan Square, the pioneering property that served to catalyze the ... transformation…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?