Bitcoin Gets a $100,000 Target Post Options Expiry
Bitcoin traded sideways around $87,000 on Christmas Eve, in contrast to record highs in gold and silver. Significant volatility was expected due to a record BTC options expiry event, with about 300,000 BTC option contracts and 446,000 IBIT contracts set to expire, representing over half of open interest on Deribit. The “max pain” level was $95,000, with market observers anticipating possible breakout moves post-expiry and a common expectation for increased volatility. Analysts noted Bitcoin’s price had been constrained by this event, suggesting a potential surge toward $100,000 after expiry. Short-term, Bitcoin had been rangebound between $85,000 and $90,000 as traders speculated capital could flow from stocks and precious metals into crypto once those markets peaked. Precious metals reached new highs, but some commentators expect money to move from these assets to Bitcoin and Ethereum once a reversal begins.
