Investors say bitcoin’s movement coincided with hundreds of millions of dollars in options expiries on Friday. They also pointed to Fed Chair Jerome Powell’s dovish Jackson Hole, Wyoming, speech, suggesting that bitcoin is seeing a catch-up trade as most other assets reacted at the time except for bitcoin.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries
