Daily Times

The cryptocurrency market turned bearish as $200 million in options expired on Friday, with the market capitalisation shedding 3.2 percent to reach $2.21 trillion as of 1350 hours GMT.

The price of bitcoin (BTC), the largest cryptocurrency, shed 0.37 percent to reach $47,387. With this decrease in price, the market capitalisation of the biggest cryptocurrency has reached $891.7 billion.

Likewise, ether (ETH) price went down by 2.90 percent to reach $3,468. With this decrease in price, the market capitalisation of ETH has reached $406.7 billion.

Similarly, XRP price shed 3.17 percent to reach $1.06. The market capitalisation of XRP stands at $116.3 billion after this decrease.

Following suit, cardano (ADA) price shed 2.66 percent to reach $2.37. Its market capitalisation has reached $76.7 billion after this decrease.

However, dogecoin (Doge) price gained 0.62 percent up to reach $0.242. With this increase in price, the market capitalisation of doge has reached $31.7 billion.

According to experts, $200 million in options expired on Friday and attention focused on corporate quarterly disclosures. They said that bitcoin (BTC) ranged around $47,000 as hopes of a bull run endured thanks to low supply and upcoming corporate disclosures. A look at buy and sell levels on major exchange Binance confirmed resistance beginning at $48,600, this having crept lower during the consolidation. Buy interest, meanwhile, still lay at $44,000. Calmer conditions on derivatives platforms likewise cooled concerns over a repeat of last week’s major sell-off, they said.