$30.3B Bitcoin Options Expiry Highlights Bearish Sentiment
- $30.3 billion in open interest for Bitcoin options will expire, primarily affecting prices at $89,000 to $94,000.
- 80% of this open interest is held on Deribit, with the Chicago-based CME holding only 11%.
- Over half of the put options will expire worthless if Bitcoin remains above $88,000.
- Less than 6% of call options are set at strike prices of $92,000 or lower.
- If BTC trades between $86,000 and $90,000, put instruments would dominate by $2.4 billion.
As the year-end expiry approaches, bearish strategies remain favored unless Bitcoin breaks the critical resistance level of $94,000. The concentration of call options indicates a lack of confidence among bulls after recent price declines.
With a significant portion of options expiring worthless if BTC stays below $94,000, bearish positioning continues to dominate market sentiment as expiry approaches Friday morning UTC.(Source)
