Introduction
Bitcoin has been awkwardly hanging around the $100K mark like it lost its keys, and now it’s facing a potential market earthquake—over $3 billion worth of BTC Options are expiring today. That’s not a typo. It’s the kind of expiration that could either send traders into champagne showers or panic mode.
Options traders have been betting on Bitcoin reaching $107,000, but surprise: BTC is already lagging below that, hanging out around $104,600 like it’s not been told the deadline is today. This gap puts a dent in optimism and a grin on short sellers’ faces.
Bitcoin Short Sellers Smell Blood (Again)
With a put-call ratio of 0.95, it might seem like bulls were in the driver’s seat—but not so fast. That Max Pain Price of $107K is already out of reach, meaning sellers have a rare chance to win the week. Traders holding long calls are getting squeezed, while short positions are opening like umbrellas in a storm.
In just 24 hours, Options Open Interest climbed by 3.88% to $46.06 billion, and trading volume skyrocketed by 107% to hit $7.06 billion. Translation? The market’s heating up—fast—and most players aren’t betting on sunshine.
Bitcoin Liquidations: A One-Sided Slap
If you were bullish, this past day was not your day. Long positions took a brutal $422.89 million punch in liquidations, compared to just $28.63 million lost by short positions. The Long/Short Ratio confirms what the pain suggests: sellers are calling the shots, sitting comfortably under a ratio of 1 at 0.929.
But Wait… The Spot Buyers Aren’t Backing Down
Despite the bloodbath, some market participants are still stocking up like it’s a crypto Black Friday.
Over the last 24 hours, $150 million in BTC flowed into exchanges—and in just three days, Bitcoin spot ETFs saw nearly $1 billion in cumulative inflows. That includes $86 million yesterday alone, as traditional investors appear to be doubling down while others scream “sell.”
Some see this as the start of a longer-term supply squeeze. But that kind of narrative is like yelling “plot twist!” halfway through a horror movie—entertaining, but not always effective.
Will Bitcoin Snap Back—or Snap Further?
With the massive $3.04 billion in Options now expiring, the window for Bitcoin to bounce back above $107K is closing fast. Without a surprise $3,000 rally (which is looking less likely by the hour), we may be headed for another leg down before any upward momentum builds again.
The next few candles on the chart could decide whether this is just a dip… or the start of something much messier.
