Last Friday, bitcoin touched $111,000, unleashing a wave of euphoria in the markets. A historic first that did not go unnoticed by the media spotlight. But since then, volatility has reasserted itself, bringing the price below $110,000. The flagship cryptocurrency now enters a critical zone. In focus: the expiration of $13.8 billion in options scheduled for May 31. For the bulls, every level gained could turn into a jackpot. But the battle remains uncertain.
The current situation of bitcoin: the market has structured itself around two sides. The bulls hope to keep bitcoin above $110,000 to maximize their positions. Call options in this area total $4.8 billion. Opposite, the bears see their hopes diminish: 95% of the puts are situated below $109,000. If the price remains high, their impact will be marginal.
