As Bitcoin has surpassed $40,000 as well as $41,000 that has served as a resistance line, other cryptocurrencies also rally altogether.
Bitcoin surged to $41,000 on the same day despite the end-of-month option settlement.
Bitcoin recorded $41,111, up 3.90% from 24 hours ago, on Coin Market Cap as of 6 a.m. on the 31st (GMT+8).
Bitcoin’s monthly option liquidation also surpassed $41,000
Bitcoin kept $40,000 and exceeded $41,000 even though many put options were organized on the day of the expiration date of the option.
With the emergence of a large number of Bitcoin put options, Bitcoin once plunged to $38,397, but soared to $41,439 as low-priced purchases flowed in.
Bitcoin has been engaged in a buy-and-sell battle at $40,000 for the past three days. If Bitcoin was less than $40,000, low-priced purchases were introduced, and if it exceeded $40,000, profit-taking sales appeared.
As a result, Bitcoin has been fiercely engaged in a buying-selling battle over $40,000 over the past three days.
The possibility of additional Bitcoin and other cryptocurrencies rally is high
However, even though the option expires on the same day, Bitcoin is likely to have additional rallies in the future as it has exceeded $40,000 and $41,000 that had been acting as a resistance line.
Experts say that the reason why low-priced purchases are so strong is because there are so many investors trying to enter the market.