Today, December 26, 2025, marks a historic moment in the crypto markets. We are witnessing the largest Bitcoin options expiry in history, with a staggering notional value of $23.6 Billion.
As we transition into the 2026 market cycle, here is exactly what the data tells us about market sentiment and where the smart money is moving.
1. The Numbers You Need to Know 📊
The positioning for this expiry reveals a significant bullish skew despite the recent "Extreme Fear" in the broader market:
Put/Call Ratio: Sitting at 0.35, indicating that for every 100 bets on a price drop, there are nearly 300 bets on a price rally.
Max Pain Price: The critical level is $96,000. Historically, prices tend to gravitate toward this "Max Pain" point as market makers hedge their positions.
Top Strikes: Open interest is heavily concentrated in the $100,000 to $118,000 range for $BTC C.
2. From "Extreme Fear" to "Gamma Release" 🔓
For the past 14 days, the sentiment index has been trapped in Extreme Fear. Holiday liquidity has been thin, but this expiry acts as a "pressure release valve." Once these billions in options settle, the "gamma hedging" that has suppressed price movement disappears.
We expect a sharp increase in volatility as we head into the first week of January. While the market is cautious, the underlying structure is primed for a potential sentiment reversal.
3. Positioning for 2026 🦅
While $BTC leads the macro trend, utility-driven projects like Falcon Finance ($FF) are capturing the attention of those seeking "Real Yield." Whether you are holding $ETH, $BNB, or $FF, the post-expiry volatility will likely define the trend for the next quarter.
🎁 Exclusive: Claim Your Free Crypto Before the Move! 🧧
Before the market starts its next big move, grab some free capital to bolster your wallet. Use my link below to claim your Binance Red Packet and invite your friends to unlock even more rewards together!
What is your price target for $BTC after this massive settlement? Drop your predictions below! 👇
#Write2Earn #Bitcoin #CryptoAnalysis #FalconFinance #OptionsTrading