Key Takeaways:

Bitcoin options market leans bullish with $11.2B in call options vs. $8.8B in puts.

BTC trades above $107K amid macro tailwinds, ETF inflows, and easing geopolitical tensions.

FHFA’s new crypto mortgage guidance may fuel further institutional interest.

Bitcoin (BTC) is gaining momentum ahead of a massive $20 billion options expiry on June 27, with bulls targeting a breakout toward the $110,000 level. After rebounding from a six-week low near $98,000, BTC has climbed to $107,682 — up over 2% in 24 hours — as macro conditions, ETF flows, and regulatory headlines boost market sentiment.

Open interest data shows $11.2 billion in call options versus $8.8 billion in put options, with the majority of bearish bets concentrated below $101,000. This structure gives bulls a clear edge unless a sharp decline occurs before expiry.

Fed Signals and Mortgage Crypto Ruling Boost Bitcoin

Bitcoin’s resilience is partly fueled by dovish signals from the U.S. Federal Reserve. Chair Jerome Powell, speaking before Congress on Tuesday, said “many paths are possible” on rate policy — including cuts if inflation remains controlled.

Market optimism further grew after FHFA Director William Pulte directed Fannie Mae and Freddie Mac to start counting crypto holdings in mortgage applications, a decision that aligns with President Donald Trump’s pro-Bitcoin agenda.

“This makes it easier for holders of bitcoin to purchase a house without selling their holdings,” said Strive CEO Matt Cole on X.

Options Expiry: Bullish Scenarios Dominating

The current BTC price structure favors bulls in most expiry scenarios:

$104.5K–$106K: Bulls gain $1.41B edge

$106K–$108K: Bulls gain $2.1B edge

> $108K: Potential for rapid upside into July

Bears, on the other hand, would need to drag BTC below $101,500 — a 5% drop — to flip the advantage.

“Persistent inflows into Bitcoin ETFs and lower bond yields suggest capital rotation into digital assets is picking up,” said Kronos Research CIO Vincent Liu.

ETF Inflows and Ceasefire Aid Bullish Outlook

Spot Bitcoin ETFs posted $588.6M in daily inflows on Tuesday, led by BlackRock's IBIT and Fidelity’s FBTC, marking the largest single-day inflow of June and extending a streak to 11 consecutive days of net positives.

A ceasefire agreement between Israel and Iran, brokered by President Trump, also reduced market risk. According to ByteTree’s Charlie Morris, “Gold likes war, Bitcoin prefers peace,” highlighting BTC’s reaction as geopolitical tensions cool.

Bitcoin Market Outlook

With spot prices holding strong above $107K and institutional interest rising, bulls are eyeing a push to $110K — and potentially new all-time highs if macro and ETF trends persist.

Support: $105K and $101.5K

Resistance: $108K and $110K

Risk: Macroeconomic surprises, geopolitical unrest, or hashrate disruptions, according to Cointelegraph.