Crypto Markets Brace for Volatility as $7.5 Billion Options Expire; CZ Raises Concerns on AI Sector
Crypto Markets Brace for Volatility as $7.5 Billion Options Expire; CZ Raises Concerns on AI Sector
The crypto market is on high alert today as $7.5 billion in Bitcoin and Ethereum options are set to expire, potentially fueling volatility after recent price drops. Max Pain levels are currently above market prices, indicating potential downward pressure. Meanwhile, Binance founder Changpeng Zhao (CZ) shared his skeptical view on the Artificial Intelligence sector, predicting that most AI firms will eventually go bust despite significant investment activity.
Crypto Markets Eye $7.5 Billion Options Expiry
The crypto derivatives market faces a monthly options expiry of nearly $7.5 billion in Bitcoin and Ethereum on May 29. Max Pain levels stand above current prices in a week marked by significant drops across both leading digital assets globally. This substantial options expiry could contribute to heightened market volatility.
CZ's Outlook on AI Firms
Binance founder Changpeng Zhao (CZ) argued on Friday that most artificial intelligence (AI) companies will go bust, even as Anthropic closed in on a $1 trillion valuation and OpenAI moved toward its initial public offering (IPO). His warning landed during one of the busiest stretches in AI fundraising history, despite the significant capital flows into the sector.