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How Will Markets React to $2.8B Crypto Options Expiring Today?
Approximately 21,600 Bitcoin options contracts, worth $2.2 billion, are set to expire on January 17. Despite its size, minimal market impact is expected. Bitcoin rebounded to six-figure territory, trading above $90,000. The options expiry has a put/call ratio of 0.94, reflecting balanced bullish and bearish positions. Open interest is highest at the $120,000 strike, gaining $1.8 billion. Crypto traders are bullish but cautious about overextension near $110,000. Key levels are $108,000 resistance and $99,000 support. Deribit noted inflation data and macro factors driving Bitcoin higher. Alongside Bitcoin, 182,000 Ethereum contracts worth $617 million will expire. Crypto market cap reached $3.73 trillion, driven by Bitcoin’s 10% weekly gain. Other top performers include XRP, Solana, and Chainlink. 1 reply
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