Deribit: Options Positioning Structure Keeps Bitcoin Price Pressured Around $90,000

Odaily News According to cryptocurrency options exchange Deribit, Bitcoin's recent price has been suppressed around $90,000, primarily due to a large concentration of open interest in options near the current strike price, coupled with the approaching large-scale expiration date on January 30th. Deribit noted that current market risk exposure is being built more through options rather than high-leverage futures, with traders increasingly favoring hedging and structured strategies to manage risk.

Analysis suggests that the high volume of options trading, particularly in short-term put options, indicates that capital remains in the market but risk control is tightening. Short-term price movements are currently being driven more by positioning structures rather than external news catalysts. Data shows that Bitcoin has been oscillating within the $85,000 to $95,000 range since mid-November. This Friday will see the monthly Bitcoin options expiration with a notional value of approximately $8.4 billion. The put/call ratio is 0.54, the maximum pain point is at $90,000, and open interest is most concentrated around the $100,000 strike price. (Cointelegraph)