Bitcoin's market is gearing up for a significant options expiry on December 27, with a staggering $11.8 billion at stake. Currently, call options dominate with $7.9 billion, overshadowing the $3.92 billion in put options. This comes on the back of Bitcoin's impressive 29% rise since October, rendering many put options ineffective. As the expiry date approaches, bulls and bears are poised to influence Bitcoin's spot price. Bulls aim for a price above $90,500, while bears target below $75,000 to minimize losses. The outcome could set the tone for Bitcoin's momentum into early 2026.