Bitcoin Options Expiry Sparks Bullish Sentiment Ahead of Key Levels
- Bitcoin (BTC) surpassed $114,000 following Oracle Corporation’s positive earnings report, marking its highest price in over two weeks.
- A $4.3 billion Bitcoin options expiry is set for Friday, with a $175 million advantage for call options if prices remain above $113,000.
- Put options dominate the current expiry with $2.35 billion in open interest compared to $1.93 billion in call contracts.
- Deribit holds a significant market share of Bitcoin’s weekly expiry at approximately 75%, indicating its influence on price movements.
- Concerns over US employment data and AI sector sustainability may impact Bitcoin’s short-term trajectory amid rising unemployment fears.
The upcoming expiry could tilt traders’ strategies towards neutral-to-bullish positions if Bitcoin maintains levels above $112,000, potentially exceeding put options by $50 million. However, falling below $111,000 could shift the advantage back to put options by $100 million.
As of now, Bitcoin’s price movement will be crucial in determining whether it can sustain bullish momentum ahead of the options expiry on Friday.(Source)
