Overview
- Roughly $23.7 billion in Bitcoin options, part of about $27–28 billion including Ethereum, expire today on Deribit in a record event.
- Bitcoin has held above roughly $88,000 in thin holiday trading after spending much of December constrained near the $85,000–$90,000 range.
- Open interest clusters center on the $95,000 max-pain level with notable strikes at $85,000 and $100,000, reinforcing recent price gravity.
- QCP Capital flags thinner liquidity and reduced open interest into year-end and projects potential 5%–7% swings as post-expiry flows hit.
- Some analysts foresee a short-lived dip toward $82,000–$84,000 followed by a rebound toward $95,000, noting that holiday spikes often mean-revert when January liquidity returns.