💥💥 Bitcoin’s Path to $100K Relies on $11.8 Billion Year-End Options Expiry 💥💥
Bitcoin’s ability to reach and sustain the $100,000 level is closely tied to the upcoming $11.8 billion options expiry scheduled for December 27 at 8:00 am UTC. Current data shows a strong advantage for call (buy) options, though bearish investors could still mitigate losses if Bitcoin’s price stays below $75,000.
As of now, open interest for call options stands at $7.9 billion, while put (sell) options lag at $3.92 billion. Bitcoin’s recent 29% rise since October has rendered most put options less valuable.
Deribit leads the options market with a 74% share, followed by the Chicago Mercantile Exchange (CME) and Binance at 10.3% each, and OKX with 4.3%.
With expiry approaching, bulls and bears are likely to impact Bitcoin’s spot price, as the imbalance of options at various strike prices could drive volatility.
December Expiry Could Trigger a Bitcoin Rally
President-elect Donald Trump’s recent win has boosted investor optimism, especially given his pro-crypto stance, which includes promises to replace U.S. SEC Chair Gary Gensler and an influx of pro-crypto legislators in Congress. A pro-Bitcoin administration could ease regulatory challenges, paving the way for potential approval of a “strategic Bitcoin reserve” and directing law enforcement to retain rather than liquidate seized BTC. Additionally, Senator Cynthia Lummis has introduced legislation to build a reserve of up to 1 million BTC.
The December options expiry is a crucial event, with total open interest at $11.8 billion. Bitcoin’s recent rise above $80,000 has put bearish positions at a disadvantage, reducing their likely impact. If Bitcoin remains around $88,000 at expiry, only about $96 million of put options would retain value, as selling at $85,000 becomes irrelevant with BTC trading above that level.
This expiration event could act as a catalyst, potentially pushing Bitcoin closer to the anticipated $100,000 mark.