Bitcoin Options Market: Bullish Bets Face Uncertainty Ahead of Massive Expiry

Bitcoin’s price declined after failing to hold the $89,200 level, sparking concerns about the upcoming $14 billion BTC options expiry on Friday. Open interest in call options stands at 104,300 BTC, totaling a value of $9.12 billion, with nearly 84% of positions currently positioned above $91,000. Conversely, put option open interest totals 67,877 BTC, worth $5.92 billion, indicating that a greater proportion of traders are hedging their bets below the current market price. This difference highlights a potential disparity between bullish calls and bearish puts as Bitcoin’s recent decline catches bulls off guard.