The BTC Bulls are leading the $ 22.6B monthly Expiration Options, the next $ 120k?

Key Takeaways:

• Bullish bets dominate the expiry of Bitcoin options in September, thinking that BTC prices hold a $ 110,000 support level.

• Despite increased demand for bullish bets, macroeconomic uncertainty maintains table risks.

A total of $ 22.6 billion in Bitcoin (Btc) The options are set to expire on Friday, creating a decisive moment after a sharp decline of $ 117,000. Currently, bullish strategies remain better positioned on expiry heading as long as the $ 112,000 level holds.

Deribit continues to lead the market, with $ 17.4 billion open interest for Friday’s Bitcoin options, while the OKX and CME trail in the rear with $ 1.9 billion each. Call Options (Buy) generally be more than Put (Sell) contracts, reflecting the same optimism of cryptocurrency entrepreneurs.

Demand for neutral-to-bullish positions of bitcoin is widespread

The September Expire Following the usual trend, with open interest sitting at 20% below $ 12.6 billion in call positions. The final outcome depends on the price of Bitcoin at 8:00 am UTC on Friday, and the initial advantage for call holders will provide if the prices retain more than $ 112,000.

The positioning of entrepreneurs in the deribit exchange shows that neutral-to-bearish bets are targeted at $ 95,000 to $ 110,000 ranges, becoming unlikely. A significant portion of call contracts has been placed at highly optimistic levels, with $ 6.6 billion in open interest awaiting $ 120,000 and older, leaving around $ 3.3 billion realistic playing.

Meanwhile, 81% of Put options in the derivit are set to $ 110,000 or less, leaving only $ 1.4 billion active. This setup strongly favors neutral-to-bullish outcomes, even if the review does not include more complex techniquesAs the sale puts to capture reversal exposure. To confirm whether professionals are truly leaning bullish, entrepreneurs are watching skew metric options.

Bitcoin Delta Skew options show moderately 13%fear, with trading choices at a premium in equivalent call contracts. Under neutral conditions, this gauge should remain between -6% and 6%, which signals that whales and market makers are restless about the downside risk at the current $ 113,500 level.

Related: Bitcoin to ‘move again wisely’ towards the end of 2025 -saylor

$ 112,000 is the main level to decide Bitcoin’s momentum

Below are three possible derivit situations based on current price trends:

• Between $ 107,000 and $ 110,000: $ 1 billion in calls (buy) compared to $ 2 billion placed (sold). The result of the net favors Put instruments of $ 1 billion.

• Between $ 110,100 and $ 112,000: $ 1.4 billion calls compared to the $ 1.4 billion placed, resulting in a balanced outcome.

• Between $ 112,100 and $ 115,000: $ 1.66 billion calls compared to the $ 1 billion placed, favoring calls by $ 660 million.

Bearish options can be previously written. Entrepreneurs’ feelings may move depending on the major macroeconomic releases since Thursday, including US Gross Domestic Product (GDP) data, weekly unemployed claims, and upcoming Treasury auctions.

An increasingly fragile economic backdrop supports further reductions in the US Federal Reserve interest rate, usually a bullish driver for assets at risk such as cryptocurrencies. Still, repeatedly Workers in Labor Market Avoiding the risk of fuel, which negatively weighs the price of bitcoin.

So far, Bitcoin’s monthly Bitcoin options have expired in favor of bulls, though a decisive collapse below $ 112,000 cannot be ruled out.

This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.