On the eve of the annual expiration of contracts worth $28.5 billion on the Deribit exchange, traders' optimism is decreasing. A significant volume of call options worth $21.7 billion is at risk of "burning out."
Investors were betting that bitcoin would stay above $100,000, but the November dynamics did not meet expectations. According to the site, only 6% of open positions have a strike price of $92,000 or lower — the rest of the bids turned out to be too far from the real exchange rate.
A high concentration is also observed in the range from $100,000 to $125,000. The maximum "pain point" is at around $95,000, the level at which holders will incur the most losses.