🔴💥All Eyes on December 26: Bitcoin Faces Its Biggest Options Expiry Ever 🔴💥
Something big is coming for Bitcoin — and it’s not just another headline. This Friday, $23.6 BILLION worth of BTC options are set to expire, making it the largest Bitcoin options expiry in history. That’s more than half of Deribit’s total open interest rolling off the board in a single day.
Bitcoin is currently hovering near $88,000, slightly off recent highs, but don’t let the calm fool you. This expiry lands in a holiday-shortened week, when liquidity is thinner and price moves can hit harder than usual.
🧠 What the Options Market Is Telling Us
Looking under the hood, positioning is anything but random:
• Heavy call interest between $100K–$120K → traders are still betting on upside
• Put options clustered around $85K → a key support level the market is defending
• Put/Call ratio at just 0.38 → risk appetite remains tilted bullish
Market makers have been actively hedging these positions in the spot market, which often keeps price “pinned” near major strike levels until the contracts expire. $BNB
And it’s not just Bitcoin. BTC + ETH options totaling nearly $28B will settle on Friday, amplifying the potential impact.
🔥 Why This Expiry Matters
Late December is when desks reduce exposure, books get closed, and liquidity dries up. In these conditions, large flows can move price aggressively. We already saw BTC swing over $130B in notional value within a single hour last week, liquidating both longs and shorts.
Once this expiry passes, the market gets a clean slate — and that’s when new positioning usually sets the tone for the next leg.
Two key catalysts are already on the horizon:
• MSCI decision on January 15 (impacting digital asset treasury firms)
• Fresh institutional derivatives flows heading into the new year
🧩 Bottom Line
This record-breaking expiry is another reminder that Bitcoin is now a derivatives-driven market.
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