Bitcoin Faces $15 Billion Options Expiration Stress Test

A total of $15 billion in Bitcoin options is set to expire on Friday, which could lead to a 'quarterly stress test' for bulls. The concentration of call positions between $85,000 and $100,000 indicates that market makers may need to hedge or suppress upward momentum.

According to the Zhitong Finance app, more than one-third of open interest on Deribit is tied to the September 25 expiration date, with a put-to-call ratio of 0.70 indicating a greater concentration of positions betting on price increases.

Caroline Moron, co-founder of Orbit Markets, stated that hedging activity may suppress upward momentum before expiration, but once options expire or are rolled over, momentum could resume.