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Bitcoin Options Expiry Approaches $2 Billion as Market Remains Bullish

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Bitcoin,Options,Cryptocurrency

Approximately 20,000 Bitcoin options contracts with a notional value of $1.93 billion are set to expire on Friday, January 3rd, 2025. While significantly smaller than last week's end-of-year expiry, the event is being closely watched for potential market impact. Analysts suggest the impact will likely be minimal due to the put/call ratio favoring long contracts and a high concentration of open interest at higher strike prices, indicating continued bullish sentiment. The news also highlights a major short call position on Bitcoin and the inflow of capital into crypto markets.

Approximately 20,000 Bitcoin options contracts will expire on Friday, Jan. 3, in the first such event of 2025.

Open interest, or the value or number of options contracts yet to expire, is highest at the $120,000 strike price, with $1.4 billion in OI,to Deribit. There is also $1.3 billion in OI at $110,000, so derivatives traders remain bullish with open contracts at higher strike prices.that the continuous trading market, or perpetual swaps, is showing more optimistic signals, similar to what was seen before the recent downturn.

It added that December’s end-of-year expiration of a significant proportion of the market’s OI in options “did not result in the fireworks that some expected.”that a major short call position had been put on Bitcoin with a notional value of $42 million. The speculator is betting that BTC will not exceed $150,000 by March 28 and stands to net $900,000 from the bet if successful.

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