Bitcoin price fell below $39,000 and the $590 million option expired on Friday.

Amid the Fed's start to raise interest rates by March to curb inflation, Reuters reported on Tuesday that major commodities in the United States rose further, sending earnings close to market. Gains, the Nasdaq Composite Index fell more than 10% from its highest level recorded in November last year, when it announced a correctional zone.

The Dow Jones Industrial Average fell 313.26 points, or 0.89%, to 34,715.39, the S&P 500 fell 50.03 points, or 1.1%, to 4,482.73, and the Nasdaq Composite fell 186.23 points, or 1.5%, to 1.02 from 1.15.

The tech-focused Nasdaq Composite closed at its lowest level since June of last year and is down nearly 12% from its current high.

The US Federal Bureau of Investigation passed the American Innovation and Choice Online Act, an antitrust bill to restrict tech companies from relying on printing technology, with Amazon 2, on the 20th. 96%, Data 1.34% and Apple. 1.03%.

In the cryptocurrency market, Bitcoin (BTC), which is pegged to the US stock market, started climbing at 10 p.m. yesterday and fell from the $42,000 level to the $43,000 level in three hours. He began to decline, with his net loss dropping from $39,000 to $38,220. The biggest decline of the day was over 12.15% and was reported at $38,747 at the time of this writing.

In terms of key gains, ETHer (ETH) fell over 14% below $2,900 to $2,810, Binance Coins (BNB), Cardano (ADA), Solana (SOL) and PolkaDOT (DOT), all 9% to 10%, as with Coinmarketcap, the data fell on them.

Markets are driven by Fed decisions

The financial sector began to slow in 2022, fearing that the Fed would do all it could to control inflation. So far this year, it's down almost 6%.

"January will be a turbulent time," Peter Tooz, chairman of the Chase Investment Council, said in an interview with Reuters. more than a few months ago.

Although Bitcoin continues to decline, Joe DiPasquale, CEO of cryptocurrency fund Bit Bull Capital, told Coindesk that the recent downturn in the cryptocurrency market was driven by a downturn and part of the season. . Historically, January has always been a weak month and we are delighted with the increase in activity and demand in the weeks to come.

According to Bloomberg, the 100-day correlation coefficient between Bitcoin and the Nasdaq 100 has risen above 0.40, the highest since 2011. The highest for several years. A coefficient of 1 means the movement is synchronized and -1 means the movement is reversed.

The $590 million option expires on Friday.

Also, according to data from Coinglass, the $590 million Bitcoin option expires at 8:00 a.m. on the 21st (4:00 p.m. Beijing time on the 21st), of which $210 million is optional and $380 million is a call option. . Therefore, the value of Bitcoin can be expected to continue to fluctuate rapidly until the end.

Bitcoin fell below $40,000 this morning. The Cointelegraph estimates that if the current negative sentiment persists, the bears will hold below $41,000 until the close and gain $132 million. .

According to the Cointelegraph, there are four key factors for Bitcoin to move on expiry.

Between $14,000 and $41,000: You make 3,320 calls in 30 calls. The result was $132 million in optional option approval.

Between $24,100 and $42,000: 170 calls 2,180 calls. The end result is an $82 million options bias.

Between $34,200 and $44,000: 1,480 calls 1,130 calls. The end result is a balance between calls and leaves.

Between $44,400 and $45,000: 2,980 call 630. The results were an incredible $103 million.