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BREAKING: $7.1 trillion worth of US stock and ETF options expire today, the largest triple-witching event ever.
Triple witching is a quarterly market event that happens four times a year, on the third Friday of March, June, September, and December.
On this day, three types of derivatives expire at the same time:
Stock options, index options, index futures
Across the last 14 triple witching events, the S&P 500 averaged around -0.5% on the day.
Bitcoin has historically ranged between 6%-9% around triple witching periods, with sharp short term swings followed by stabilization once expiry pressure clears.
Expect volatility today as well.
It does not change long term trends, but it often creates short term noise and liquidity moves.
Credit card balances hit an ATH of $1.23 TRILLION.
With this much debt you think people are going to put their non-existent spare cash into crypto?
Yes maybe a bunch of degens!