Key takeaways:
Bitcoin bulls aim to push BTC above $110,000 by May 30 to capitalize on $4.8 billion in call options.
Spot BTC ETF inflows and weak put positioning give bulls a strong edge in the monthly expiry.
Bitcoin (BTC) is approaching its largest monthly options expiry of 2025, with total exposure reaching $13.8 billion. This event gives bulls a chance to secure Bitcoin’s price above $110,000, as bears were caught off guard by a 25% rally over the past 30 days.
May 30 Bitcoin options open interest, USD. Source: Laevitas.ch
The open interest in Bitcoin put (sell) options stands at $6.5 billion, but 95% of these positions are set below $109,000. Therefore, if Bitcoin’s price holds near current levels, less than $350 million worth of put options will remain relevant at expiry.
Conversely, the open interest in Bitcoin call (buy) options up to $109,000 totals $3.8