Bitcoin Steady Near $31K After Options Expiry; Dollar Index Rises Before Key U.S. Inflation Data

The expiry was critical, considering market makers in BTC options were “long gamma” and could have added to spot price decamps with their hedging activities. The largest cryptocurrency by market value, however, traded listlessly between $30,000 and $31,000 in ages leading up to the settlement and remained locked in the narrow range afterward, recording just a 1% gain on the day to $30,700 as of 10:40 UTC, CoinDesk observations show.