Bitcoin Surges Above $80,000 as Options Expiry Looms

Bitcoin has broken above $80,000 for the first time in weeks, propelled by a massive $6 billion options expiry and renewed risk appetite across the crypto market.

The move comes just ahead of the monthly options expiry, with open interest exceeding $6 billion. Traders are closely watching whether the price can sustain above this level or if the expiry will trigger increased volatility.

Ethena and Official Trump have emerged as top altcoin performers in the last 24 hours, with Ethena's token surging by over 15% due to growing interest in its yield-bearing stablecoin offerings. Official Trump, a meme coin associated with the former president, has also rallied sharply on social media buzz and speculative trading.

The $80,000 level is a critical juncture for Bitcoin's short-term trend. A sustained close above this level could open the door to further upside, potentially testing the all-time high near $86,000. Conversely, failure to hold could lead to a pullback toward the $75,000 support zone.