Bitcoin Prepares for $15.6B Options Expiry Amid Bull Market Call
Bitcoin faces a crucial test this Friday as $15.6 billion worth of options expire, with many expecting a significant market move.
According to Fundstrat's Tom Lee, a crypto bull market is underway, driven by factors such as rotation from AI back to crypto and strengthening fundamentals centered around tokenization and AI.
Lee's bullish call appeared in a Sept. 21 Fundstrat market note, but Bitcoin has yet to cooperate, slipping below $84,000 this week due to surging US Treasury yields.
Friday's expiry contains major positions at $90,000 and $100,000, with approximately 182,000 BTC in options due to expire, including 106,200 calls and 75,900 puts.