#Bitcoin is heading into a major options expiry, and positioning is driving price.
Open interest is heavily clustered around $82K (puts) and $95K–$96K (calls), with max pain near $96K. That setup keeps BTC pinned in the high-$80Ks as dealers hedge and volatility stays compressed.
Into expiry, price action is more about liquidity and positioning than trend. Once this expiry clears, $BTC is unlikely to stay range-bound for long.
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#Bitcoin is heading into a major options expiry, and positioning is driving price.
Open interest is heavily clustered around $82K (puts) and $95K–$96K (calls), with max pain near $96K. That setup keeps BTC pinned in the high-$80Ks as dealers hedge and volatility stays compressed.
Into expiry, price action is more about liquidity and positioning than trend. Once this expiry clears, $BTC is unlikely to stay range-bound for long.