Bitcoin options worth $15.6 billion expire Friday, with BTC at $84290.16 facing MACD death cross and Bollinger resistance at $88894.01.

BTC sees 149000 options expire with 0.28 put-call ratio and $9.6B notional while price holds at $63932.52 amid bearish 4h structure and $65K resistance.

BTC options data shows 25,600 contracts expiring at $70,500 support with $1.62B notional; ETH follows with 155,000 contracts at $2,000 amid sharp drop to $60,000.

Bitcoin retested the 75K strike, dropping toward 72.5K before major options expiry as options data signals positioning shifts and volatility expectations.

Bitcoin sees 21,000 options expire at $78,500 strike with $1.6B notional as one-and-a-half-month rally ends and IV falls below 35%.

According to Binance Research, the latest Weekly Commentary addresses key market factors, including volatile oil prices, changes in monetary policy outlook, capital flow shifts across asset classes, and significant upcoming options expiry. These dynamics are critical for traders as they assess market positioning and potential price movements.

According to @GreeksLive, 91,000 BTC options expired with a put call ratio of 0.48, max pain at 90000, and 7.6 billion notional, while 435,000 ETH options expired with a put call ratio of 0.68 and max pain at 3000. This @GreeksLive data indicates call-heavy positioning in both BTC and ETH and highlights pin risk near the stated max pain strikes into settlement, levels traders watch for short term direction and volatility.

According to CrypNuevo, record levels of Bitcoin options expired on Friday, removing the range-pinning effect and setting up a volatility expansion over the next few weeks, source: CrypNuevo on X, Dec 28 2025. He expects a downside liquidity run to occur first as BTC breaks from the recent range, with more volatile price action likely before any sustained trend, source: CrypNuevo on X, Dec 28 2025.

According to @CrypNuevo, a record-level options expiry is driving a record gamma flush today, making near-term BTC volatility highly likely and materially increasing trading range expansion risk. Source: @CrypNuevo on X, Dec 26, 2025. According to @CrypNuevo, the expiry-driven removal of gamma pinning means BTC can now break out or break down from the recent range, shifting the setup toward directional momentum rather than mean reversion. Source: @CrypNuevo on X, Dec 26, 2025. According to @CrypNuevo, he presents two specific trade triggers and highlights on-chain liquidation clusters to monitor for entries, stops, and targets in an 11-minute video. Source: @CrypNuevo on X, Dec 26, 2025 and YouTube youtu.be/JGsADClc17s.

According to @CoinMarketCap, today’s options expiry has market attention centered on the 82K and 95K price levels as key focus areas for near-term direction, source: @CoinMarketCap on X, Dec 26, 2025. @CoinMarketCap reports that most creators expect a move down first to grab liquidity, followed by a move higher, implying a short-term dip-then-rip bias into expiry, source: @CoinMarketCap on X, Dec 26, 2025. For trading, this suggests monitoring any sweep toward the 82K focus level and subsequent strength back toward the upper focus level near 95K to align with the majority view, while a direct move higher without a prior sweep would diverge from that consensus, source: @CoinMarketCap on X, Dec 26, 2025.

According to @glassnode, the options open interest put/call ratio has been rising over recent weeks, indicating a build-up in put positioning (source: @glassnode, Dec 12, 2025). According to @glassnode, even after the FOMC meeting, activity stayed skewed toward puts, signaling continued demand for downside protection (source: @glassnode). According to @glassnode, this morning’s expiry pushed the ratio lower as post-meeting hedges rolled off, reducing the put-heavy skew in open interest (source: @glassnode).