Today, Bitcoin has 20,000 options contracts expiring, valued at $2.15 billion. While this is much lower than last week’s $88,537 contract, it could still lead to some volatility in the price. With more long contracts (calls) than short contracts (puts), market sentiment for Bitcoin remains largely positive.
Bitcoin’s open interest, which refers to the number of contracts that have not yet expired, has reached a peak of $120,000. This suggests that many traders expect Bitcoin to rise further.
Meanwhile, the key price to watch is $97,000 as this could indicate where Bitcoin is headed next.