**Bitcoin Faces Major Options Expiry Amid Favorable Macroeconomic Conditions**

Bitcoin is gearing up for its second-largest monthly options expiry of 2024 on Sept. 27, with $8.1 billion in exposure. The big question: will this spark a rally to $70,000, or will bearish forces push prices down?

The current macroeconomic landscape is favorable for risk-on assets like Bitcoin. If Bitcoin remains above $63,000, bullish options holders could see significant gains. However, bears are motivated to drive the price below $60,000.

China’s recent economic stimulus and the US Federal Reserve’s interest rate cuts have created a supportive environment for Bitcoin. With $4.9 billion in call options versus $3.2 billion in put options, bulls seem to have the upper hand. The coming days will be crucial in determining Bitcoin’s short-term trajectory.