$15 billion Bitcoin options expire tonight! Surge or collapse? It's imminent ⚠️

Big event tonight! Over $15 billion worth of Bitcoin options will expire on June 27, one of the largest scales in recent months, which may also determine the direction of Bitcoin in the third quarter.#加密市场回调

In simple terms, whether the market will take off or plunge next will likely show signs tonight!#币安Alpha上新

💥 First, let's look at the market: BTC surged 10% in a week, breaking through strongly!

Bitcoin has been super strong these days, rebounding nearly 10% within a week, breaking through the previously stuck $106,000~$108,000 zone in one go.
It directly ignored the key resistance zone from May ($103,000~$105,000), and now the bulls have set their sights on $110,000!

However, this road is not so smooth, key resistance still exists, and the market is also watching the movements related to tonight's options expiration.

📊 Key data is here: bullish sentiment is ridiculously strong.

  • Current BTC call options: 79,630 contracts

  • Put options: 59,770 contracts

  • Put/Call ratio: only 0.75

What does this indicate? The market is clearly leaning towards the bulls!
And the total open interest has reached as high as 139,400 contracts, which is a 'powder keg level' of expiration lineup 🔥

🧨 Two possible outcomes:

✅ If Bitcoin continues to rise

👉 Will trigger 'Gamma Squeeze'!
This means that market makers will be forced to continuously repurchase BTC to hedge, the more they buy, the faster it rises, and the faster it rises, the more they have to buy! It's like automatically refueling, and the market will accelerate directly upwards!

❌ If the rise is weak and encounters resistance.

👉 After the liquidation tonight, the hedging positions will be unwound, and these hedging forces will disappear instantly, putting the market into a 'free-for-all' state:
Will the bulls push to 110,000, or will the bears strike back? It depends on who acts first.

🧐 So how do we look at the next steps?

There are a few points worth paying special attention to:

The total open interest of Bitcoin options just hit a historic high of $51.1 billion, with Deribit accounting for 80%.

The put/call ratio on the Deribit platform is only 0.36, with almost all new entrants betting on the upside;

An additional 180,000 call options were added, indicating strong market enthusiasm for BTC's future breakout;

But don't forget, after expiration, the market may reshuffle, and it's possible that it will wash out some positions before pushing upward.

📌 Let's summarize:

✔ The bullish structure remains in the short term, breaking 110,000 for BTC is not a dream;
✔ But be wary of the potential short-term volatility caused by the 'disappearance of hedging' after the options expiration;
✔ If the bulls hold through the pullback, after this round of position changes, a major market event in Q3 might really be coming!

🎯 Remember to keep an eye on the market! Don't just watch others profit while you become the bag holder!

If you feel this market move is a bit risky, you might want to hold steady and not rush in;
But if you're already on board, then hold on tight, as the upcoming fluctuations could be quite exciting 🚀

✍️ DYOR, manage risk well, and may everyone set sail in the crypto world! 🌊

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