Bitcoin Approaches $13.8B Options Expiry Amid Price Fluctuations
Bitcoin is approaching a significant options expiry on May 30, 2025, with around $13.8 billion at stake. Recently, Bitcoin reached an all-time high of $109K before experiencing a 3% correction to approximately $108K. The current market dynamics suggest a critical battle between bulls and bears to maintain prices above $109K.
Key Points
- 95% of put options are below $109K, indicating potential losses for short sellers if Bitcoin remains above this level.
- Approximately $3.8 billion in call options exist up to $109K, allowing bulls to profit significantly if Bitcoin holds above this mark.
- Between May 20 and May 22, institutional purchases resulted in a net flow of $1.9 billion into Bitcoin ETFs, showing strong corporate interest above $105K.
- Open interest in Bitcoin futures stands at $79 billion, primarily from short positions, suggesting bearish pressure against sustaining the $109K threshold.
The following table outlines the potential outcomes for Bitcoin's expiry price:
| BTC Expiry Price | Calls | Puts | Net |
| Between $102K and $105K | $2.75B | $0.9B | $1.85B – Call Side |
| Between $105K and $107K | $3.3B | $0.65B | $2.65B – Call Side |
| Between $107K and $110K | $3.7B | $0.35B | $3.35B – Call Side |
| Between $110K and $114K | $4.8B | $0.12B | $4.70B – Call Side |
With seven days remaining until expiry, market volatility is expected, though bullish sentiment prevails. Predictions suggest that Bitcoin could reach $200K by year-end.