Bitcoin Surges Above $80,000 Amid $6.16 Billion Options Expiry

Bitcoin's price has surged above $80,000 on Friday, maintaining its bullish bias as it approaches a $6.16 billion options expiry. This large volume of open interest reflects the highly leveraged nature of the options market.

The Fear and Greed Index, which measures sentiment among investors, sits at 83, indicating a strong risk-on attitude. Several cryptocurrencies are also performing well, with Ethena (ENA) and Official Trump emerging as top performers after posting double-digit gains over the last 24 hours.

Ethena's price has been boosted by the announcement that its foundation will buy back early investors' tokens and allocate revenue towards further buybacks. This move aims to reduce supply pressure in the market. The cryptocurrency maintains a constructive bullish bias, with momentum indicators suggesting that upside momentum may be slowing.