Listen, Pandas… when expiries like this hit, $BTC starts moving “weird” on purpose.
📅 Dec 26
Around $23.7B worth of Bitcoin options expire — the largest options expiry of 2025.
That’s roughly 268,000 contracts rolling off at once, and even with zero news, this alone is enough to shake the market.
What most people miss 👇
Open interest is heavily skewed to CALLS, not puts
Low Put/Call ratio → traders are still leaning bullish
But options don’t exist in a vacuum.
Big players hedge option exposure using:
Spot BTC
Futures
Those hedges create real buy & sell pressure.
That’s why price action feels strange into big expiries: • sharp wicks
• fake breakouts
• choppy ranges that trap both longs and shorts
🎯 The key level to watch: 96,000
This is the Max Pain zone — where option buyers lose the most at settlement.
BTC doesn’t have to go there, but when $23B+ expires in one day, price often reacts around these strikes.
Typical behavior:
Before expiry: • messy sideways action
• stop hunts on both sides
• breakouts with no follow-through
After expiry: • hedging pressure fades
• liquidity clears
• price starts moving cleaner again
🧠 Dec 26 is the reset point.
Until then: expect traps, manage risk, and don’t trade emotionally.
🐼 Stay sharp.
#Bitcoin #BTC #OptionsExpiry #CryptoMarket #Derivatives #Write2Earn
