A year-end options expiry for bitcoin is suppressing volatility just as macro and risk-asset positioning turns supportive for a higher price.

What to know:

  • Bitcoin has spent the majority of December pinned between $85,000 and $90,000.

  • That range has been enforced by dealer hedging tied to heavy options exposure, with dips bought near $85,000 and rallies sold near $90,000.

  • Some $27 billion of open interest are set to expire on Deribit with a strong call bias, and options mechanics point to a resolution toward the higher end as the more likely outcome.

#Bitcoin❗

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