Bitcoin options could pave the path for new BTC price highs — Here is how

Key takeaways:

• 97% of the $8.3 billion in Bitcoin put options expire worthless at a $102,000 BTC price.

• Short covering above $105,000 could trigger a Bitcoin price rally to new highs.

Bitcoin (BTC) soared above $101,000 on May 8, reaching its highest level in over three months. The 4.6% daily BTC price gain triggered $205 million in liquidations of bearish futures positions and eroded the value of nearly every put (sell) option. Traders now question...