Fundstrat’s Thomas Lee: Weakness in Bitcoin Is Caused by Futures Expiration


According to Fundstrat head of research Thomas Lee, the recent decline in Bitcoin (BTC) price is likely the result of the expiration of Bitcoin futures, Bloomberg reports June 14.

In a report, Lee explained that the “gut wrenching” weakness in Bitcoin (BTC), which dropped upwards of 20 percent earlier this week, was the result of futures contracts expiring. Lee said the “significant volatility” is one of six expirations of Bitcoin that have happened since CBOE launched its futures contracts in December 2017. Lee wrote:

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