Friday is going to be a BIG day for Bitcoin.

Over $4.7bn worth of options will be expiring. Most of the notional exposure is to bullish Call options with strikes over $70k.

The "max pain" price is $65k. This is the price at which most options will expire worthless.

Option dealers could try and hold spot prices closer to the max pain point until expiry.

Once expiry hits, the hedges would be closed and $BTC could push through that $70k resistance.

Exact expiry times are 8am UTC FYI.