Bitcoin's price trajectory, particularly its ability to reach and hold the $100,000 mark, is closely tied to an upcoming $11.8 billion options expiry scheduled for December 27. Currently, call options dominate the market with a total open interest of $7.9 billion, while put options sit at $3.92 billion. This disparity signals potential bullish momentum, especially as Bitcoin's price has risen by 29% since October. Major players in the options market, such as Deribit with a 74% share, are set to play a pivotal role. The bearish investors' strategy aims to keep Bitcoin's price under $75,000 to mitigate potential losses as expiry approaches. Analysis of various price scenarios suggests that bulls could benefit significantly by pushing the price above $90,500, while bears need to target a drop near $74,500 to avoid major setbacks. Overall, the current options market indicates a favorable outlook for Bitcoin, projecting sustained bullish momentum into early 2026.

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