Will Bitcoin bulls secure $110K before BTC’s $13.8B options expiry?
Bitcoin (BTC) is nearing a significant monthly options expiry in 2025, with total exposure at $13.8 billion. Bulls aim to keep Bitcoin's price above $110,000 following a 25% rally in the past month. Open interest in put options is $6.5 billion, primarily below $109,000, suggesting minimal relevance for these positions at expiry if prices hold. Call options open interest up to $109,000 totals $3.8 billion, with some traders using them for hedging rather than bullish bets. Strategies like "short call" and "bull call spread" are prevalent among investors. Strong demand for Bitcoin is indicated by $1.9 billion in net inflows into US spot Bitcoin ETFs from May 20 to May 22. The total open interest in Bitcoin futures is $79 billion, with significant short positions that could lead to losses for bears if Bitcoin surpasses $110,000. Bulls are focused on achieving this price by May 30, influenced by macroeconomic factors and ongoing tariff discussions.
