Bitcoin Bears Aim For Victory In $30.3B Options Expiry
A $30.3 billion Bitcoin options expiry looms, favoring bears unless BTC decisively breaks above $94,000.Summary
A significant $30.3 billion in Bitcoin options is set to expire at year-end, with the final price at 8:00 am UTC on Friday determining market control. Most call (buy) options are positioned well above current trading levels, many set to expire worthless after Bitcoin failed to reclaim the $100,000 level. While bulls have placed optimistic bets up to $200,000, bearish strategies clustered between $75,000 and $86,000 are currently favored. If Bitcoin trades above $88,000, over half of the $7.7 billion in put (sell) options on Deribit will expire worthless, but bearish positioning remains dominant as long as BTC stays below the critical $94,000 resistance level. Scenarios suggest that an expiry below $90,000 would be highly negative for bulls, while the $94,000 mark is the key level to decide future momentum.
(Source：Cointelegraph)