Virtual Assets: $10 Billion Option Expiry Hits...Bitcoin New All-Time High Scenario Emerges

▲ Bitcoin (BTC)

As the virtual asset market approaches a $10 billion option expiry, including Bitcoin (BTC) and Ethereum (ETH), price volatility is expected to significantly increase.

Cryptocurrency specialized media outlet Coingape reported on April 24 (local time) that option contracts for Bitcoin, Ethereum, XRP, and Solana (SOL) totaling over $10 billion are set to expire. This expiry is expected to be a turning point for investors in determining future market direction. Amid anticipated large-scale asset movements, tension is escalating within exchanges.

Bitcoin's maximum pain point has formed around $71,000. Currently, open interest is concentrated on call options at the $75,000 mark, indicating that expectations for price increases still exist. However, with funding rates at -4.5%, a bearish market sentiment prevails. Analysts diagnose that "such figures could actually trigger a short squeeze, acting as a catalyst for a sharp price surge."

Ethereum, XRP, and Solana are also facing large-scale expiry volumes. Ethereum recently reclaimed the $2,200 level, attracting interest from institutional investors. XRP is maintaining a price above $1.40 and reacting sensitively to regulatory news. Solana is testing the key support level of $80.93, exploring its direction after the option expiry.

The current virtual asset market is assessed to have entered a disbelief phase, doubting price increases. With USDC balances on Binance recently recovering to $7.51 billion, the market has secured ample buying power. As investors tend to sell against the trend rather than following it, the possibility of liquidation for bearish bettors is also increasing.

This $10 billion option expiry is a key event that will determine the short-term momentum of the virtual asset market. There is a high probability of rapid price fluctuations as the gap between the maximum pain point and the current price is bridged. Investors should closely monitor the volatility that may arise immediately after the option expiry and establish cautious response strategies.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*