Bitcoin Bulls Target $110K as $20B Options Expiry Approaches
Bitcoin traders are closely watching the $20 billion monthly options expiry scheduled for June 27. Despite a 1.72% decline over the past month, the recent price recovery gives bulls an opportunity to establish support at $105,000. This level may prove crucial for Bitcoin‘s push toward new highs.
Market Sentiment Favors Upside
Current open interest shows $11.2 billion in call options versus $8.8 billion in puts, with $7.1 billion of puts positioned at $101,000 or lower. This significant imbalance indicates stronger bullish sentiment among traders.
Federal Reserve Policy Impacts Crypto Markets
Federal Reserve Chair Jerome Powell recently suggested potential rate cuts if inflation remains controlled. Other Fed officials echoed this dovish stance, potentially creating favorable conditions for risk assets like Bitcoin.
Traditional Market Performance as Indicator
The S&P 500 reaching four-month highs suggests investors may rotate into riskier assets. Analysts project modest 2025 growth for traditional markets, which could benefit alternative investments.
Key Price Scenarios Before Expiry
- $100K-$101.5K: Balanced calls and puts
- $101.5K-$102.5K: $235M call advantage
- $102.5K-$104.5K: $750M call advantage
- $104.5K-$106K: $1.41B call advantage
- $106K-$108K: $2.1B call advantage
Market Outlook
Bears would need to push Bitcoin below $101,500 to limit losses, while bulls maintaining prices above $106,000 could set the stage for continued upward momentum, especially with sustained ETF inflows.
