Bitcoin investors are gearing up for a monumental $19.8 billion options expiry set for Dec. 27 at 8:00 am UTC. Following Bitcoin's rally beyond the $100,000 mark, bearish traders find themselves in a precarious position, while bullish traders see a significant opportunity to capitalize and potentially drive BTC to a new all-time high.
Key Insights from the Options Data
The latest options data reveals a significant tilt in favor of call (buy) options across various price ranges:
Between $95,000 and $100,000: $5.6 billion in calls versus $520 million in puts, favoring calls by $5.1 billion.
Between $100,000 and $105,000: $7.12 billion in calls versus $240 million in puts, favoring calls by $6.9 billion.
Between $105,000 and $112,000: $8.13 billion in calls versus $120 million in puts, favoring calls by $8 billion.
This data highlights the significant leverage bulls hold, as they stand to dominate the options expiry if BTC maintains or exceeds the current price levels.
The Battle for Key Price Levels
For bearish traders, the challenge lies in driving Bitcoin's price below $95,000 before the Dec. 27 expiry to mitigate potential losses. Failure to do so would result in substantial losses, further consolidating the bullish narrative.
Conversely, bullish traders are positioned to maximize their gains if Bitcoin moves above $105,000. Such a surge would not only mark a new all-time high but also reinforce market confidence heading into early 2026.
Strategic Implications
This options expiry could serve as a pivotal moment for Bitcoin's price trajectory:
For Bulls: Maintaining momentum above $105,000 could signal continued bullish dominance and potentially fuel a sustained rally into the new year.
For Bears: The need to reclaim levels below $95,000 is critical to reversing the bullish trend and averting significant losses.
Conclusion
The Dec. 27 Bitcoin options expiry presents a high-stakes showdown between bulls and bears. With a $19.8 billion expiry on the line, the outcome will likely set the tone for Bitcoin's market dynamics as 2026 approaches. Traders and investors alike are watching closely as the battle for Bitcoin's next major move unfolds.
source : Cointelegraph