Bitcoin has remained resilient despite the last option expiration of the year. $14.2 billion worth of Bitcoin options expired on December 27. The market experienced $18 billion worth of Bitcoin and Ether options expiration. Deribit Exchange noted that the market is heavily leveraged to the upside and a significant move lower could have a quick impact.

Bitcoin has shown resistance despite the option expiration, rising above $97,330. Based on its correlation with the global liquidity index, it could rise above $110,000 in January.

US spot Bitcoin ETFs ended their losses with $475 million in net inflows after Christmas. Bitcoin is facing significant resistance around $98,000. Breaking this level could liquidate $885 million worth of short positions. We await your comments.