First Mover Asia: Bitcoin rises $46K-$48K Weekend Surge Following ‘Crypto Witching Day’

Bitcoin’s price was varying between $46,000 and $48,000 over the weekend, after “crypto witching day” closed on Friday with the expiration of roughly $8.67 billion worth of bitcoin and ether options contracts.
Bitcoin, the traditional cryptocurrency, went through a little price recovery to as high as approximately $47,961.0 on Saturday, before it plunge into red again on Sunday, dependent on data from TradingView. But its general spot trading volume across main centralized exchanges reduced on the weekend, meaning that the price up and down was not supported by powerful market activities.
On Friday, roughly 115,000 bitcoin options and roughly 882,000 ether options contracts, with a value of total notional value of $8.67 billion, expired, according to Cayman Islands-based crypto financial services firm Blofin. After the settlement was done, bitcoin’s price slightly went up abruptly to above $48,000 on some exchanges, crypto trading data platform aICoin tweeted on Dec. 31.
At the same time, harmony (ONE) and chainlink (LINK) were the largest champions among alternative cryptocurrencies (altcoins) on Sunday, at current writing. Harmony is the native token of smart contract platform Harmony and LINK is an ERC-20 token for decentralized oracle network Chainlink.









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