BTC OGs selling covered calls is the main culprit suppressing price: Analyst - Source: CoinTelegraph

Long-term Bitcoin whales selling covered calls, a strategy of selling call options that give the buyer the right but not an obligation to purchase an asset in the future at a predetermined price in exchange for the seller collecting a premium, is suppressing spot BTC prices, according to market analyst Jeff Park.

Large, long-term BTC holders, also known as “whales” or “OGs,” introduce a disproportionate amount of sell-side pressure through this covered call strategy, partly because market makers are on the other side, buying the covered calls, Park said.

Story continues: https://cointelegraph.com/news/bitcoin-ogs-covered-calls-suppressing-price