Sep 25, 2025
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Bitcoin Options Expiry Approaches Amidst Market Struggles
Crypto Market Overview
- BTC is struggling, currently at $111,622.87 (-1.71%)
- ETH is trying to maintain the $4,000 range but is down 3.38% to $4,026.82
- The Crypto Fear and Greed Index is at 45, indicating neutral sentiment leaning towards fear.
- $17 billion in BTC options expire soon, with a max pain price of $110,000.
Key Events
- Plasma's mainnet beta launch: The layer-1 blockchain for stablecoin payments starts its beta and native token, XPL.
- dYdX voting: Governance vote on setting Rewards C Constant to 0, closing Sept. 26.
- Token Unlocks: Venom (VENOM) to release 2.28% of supply worth $7.98 million.
Market Movements
- CoinDesk 20 index is down 3.52%
- Gold futures up 0.39%
- S&P 500 closed down 0.28%
- Nikkei 225 closed up 0.27%
Derivatives Positioning
- Open interest in AVAX futures declined by nearly 12%
- Overall BTC futures positioning remains high
- Negative funding rates observed for XRP, SOL, HBAR, TRX, SUI, and XLM, indicating bearish sentiment
Industry Developments
- Circle explores 'reversible' transactions, moving away from traditional crypto norms
- Nine European banks plan to issue a MiCA-compliant euro stablecoin by 2026
- Australia proposes new legislation requiring crypto platforms to obtain financial service licenses
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