Last Friday, Bitcoin came close to $ 111,000, triggering a wave of euphoria on the markets. A historical first that has not escaped media spotlights. But since then, volatility has returned, bringing the course under $ 110,000. The star crypto now enters a critical area. In sight: the expiration of $ 13.8 billion in options scheduled for May 31. For the Bulls, each won level could turn into a jackpot. But the battle remains uncertain.
In short
- Haussiers rely on $ 4.8 billion in gains if Bitcoin crosses $ 110,000.
- 95 % of the power options will be worthless if Bitcoin exceeds $ 109,000.
- ETF Bitcoin Spot recorded $ 1.9 billion in net entries in just three days.
Bitcoin options: a strategic duel at $ 13.8 billion
Bitcoin news: the market was structured around two camps. THE bullish hope to maintain bitcoin over $ 110,000 to maximize their positions. Call options in this area weigh $ 4.8 billion. Opposite, the bearings see their hopes to get down: 95 % of the puts are placed under $ 109,000. If the course remains high, their impact will be marginal.
At Deribit,, The most used strategies in May are the “Bull Call Spreads” and the “Short Calls”. They allow you to enjoy a measurement measured by Bitcoin, while limiting losses in the event of a reversal. This positioning reflects the current prudence of market players.
THE decisive factor could come from ETF Spot Bitcoin. Between May 20 and 22, $ 1.9 billion was injected there. This massive influx supports the bullish feeling. But nothing is played: the Bears could still try to manipulate future contracts to limit the breakage. Because when approaching the deadline, each dollar counts.
Technical tensions and “Pinning Effect”: Understanding the Bitcoin front lines
On the graphics, Thresholds of $ 110,000 and $ 112,000 become explosive areas. The account x @darkpurplehazex describes:
There seem to be important short positions at $ 112,000 … but they lose ground.
This level crystallizes the selling pressure. If it gives up, Squeeze shorts could propel Bitcoin to new heights.
But technical analysis does not explain everything. THE famous “Pinning Effect” comes into play. It pushes prices to stabilize around levels with high open interest. For this month, this corridor seems to be between $ 105,000 and $ 110,000, a potential trap for both camps.
THE $ 79 billion in open interests On future contracts amplify this tension. A break in one direction or the other could create a domino effect. In this context, strategies evolve minute per minute. Investors monitor the smallest signals: volumes, tweets, and macroeconomic announcements.
Towards a high tension outcome
The end of the month promises to be electric. The figures speak for themselves and reflect maximum pressure on the market. Haussiers can take up to $ 4.8 billion on Call options if Bitcoin exceeds $ 110,000. For their part, lowering have few remaining weapons: 95 % of their puts expire under $ 109,000, making them useless if the course remains high.
The influx of $ 1.9 billion in the Bitcoin ETF between May 20 and 22 illustrates the confidence of institutional investors. This support owes nothing to chance.
On future contracts, $ 79 billion in open positions increase the issues.
- $ 4.8 billion in calls in zone 110–114K;
- 95 % of the puts expired under $ 109,000;
- 1.9 billion injected into ETF in three days;
- $ 79 billion in open interest in future.
In this context, the slightest technical or geopolitical spark could tip everything.
Recently, Donald Trump rekindled tensions by relaunching the trade war with the EU a declaration which immediately destabilized the markets. Result: Europe and Bitcoin vacillate. This brutal reminder underlines how much the crypto ecosystem remains sensitive to external shocks. As the options are expired, the nerves will be put to the test.
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