In this article, we have collected and analyzed the main recent developments regarding Bitcoin , with the aim of providing a comprehensive and up-to-date view of the factors that are influencing its market value, investor confidence, and the growth prospects of the entire cryptocurrency sector.
Will $15 Billion Bitcoin Options Expiration Impact Crypto Markets?
About 140,000 Bitcoin options contracts will expire today, Friday, June 27 , with a notional value of about $15 billion . This is particularly significant because it coincides with the end of the month and the second quarter , and could therefore affect spot markets, which are recovering from Monday's crash, even though Bitcoin is virtually the only asset to have recorded significant gains , although momentum appears to be fading.
This round of contracts has a put/call ratio of 0.74 , which indicates a prevalence of long positions over short positions. The “maximum pain” point is set at $102,000 , about $5,000 below the current spot price: this is the level at which the largest losses would be recorded at the expiration of the contracts.
Open interest (OI) – the value or number of contracts still open – is highest at the $140,000 strike price , at over $ 1.7 billion , while $120,000 is also a very active level. However, OI has also increased at the $85,000 and $95,000 levels , signaling increased activity from bearish speculators, Deribit reports .
“Bitcoin options open interest on Deribit just hit an all-time high of $40 billion and counting,” the company said on X.
In addition to the Bitcoin options expiring today, there are also approximately 940,000 Ethereum contracts set to expire, with a notional value of $2.3 billion , a max pain of $2,200 , and a put/call ratio of 0.52 , bringing the total notional value of crypto options expiring to approximately $17.3 billion .
BTC.com Sends 98% of Bitcoin Miners' Flows to Binance
The BTC.com mining pool dominates miner flows to Binance, currently accounting for nearly 98% of all Bitcoin transfers from miners to the exchange. According to the latest report from CryptoQuant , this trend offers valuable insights into miner behavior.
Historically, BTC.com increases transfers to Binance when the price of Bitcoin is rising, indicating that miners are strategically profiting during local spikes. Conversely, a reduction in these flows signals increased confidence on the part of miners, who prefer to hold on to their BTC rather than sell it.
Despite Bitcoin having surpassed $100,000 in recent months, flows from BTC.com to Binance have dropped dramatically . This suggests that miners are anticipating further price gains and are reducing selling pressure , potentially supporting a more sustained rally.
“Miners are some of the smartest players in the market. Watching their movements helps us understand where we are in the cycle.”
Despite recent price milestones, Bitcoin on-chain fees remain weak , according to Digital Mining Solutions . In 2025, fees accounted for less than 1% of the total block reward and failed to offset the reduction caused by the halving. This low-profitability environment makes miner revenue (hashprice) highly dependent on the price of Bitcoin.
When BTC drops, the hash price drops almost in parallel, with little support from fees to cushion the loss. The Bitcoin network hash rate has been highly volatile in 2025, with several all-time highs followed by steep declines. It peaked at 950 EH/s in mid-June , before plummeting to 827 EH/s , a 13% decline.
This pattern of spikes followed by sharp corrections repeats regularly, partly due to seasonal factors . In the United States, where about half of the mining activity is concentrated in Texas , for example, heat waves and summer power restrictions often cause hash rate drops.
The last similar signal took Bitcoin from $60,000 to $100,000. What to expect now?
Bitcoin could be poised for a rally to $160,000 , according to a leading on-chain indicator that has already anticipated two more record-breaking surges. This bullish outlook comes despite BTC facing significant volatility around $108,000, a psychological threshold being tested amid geopolitical tensions and conflicting accumulation patterns.
In his latest insight, market analyst Axel Adler Jr. highlighted how Bitcoin’s Long-Term Holder (LTH) to Short-Term Holder (STH) ratio displays a very familiar accumulation pattern.
According to him, some of BTC’s most explosive comebacks between 2023 and 2025 were preceded by a sustained increase in the LTH/STH ratio . One of these, which began when Bitcoin was hovering around $28,000, took the cryptocurrency all the way to $60,000. Another increase in this ratio gave the upside momentum from $60,000 to $100,000.
Adler noticed the same signal at the $100,000 level:
Today, around the $100,000 mark, we are again seeing a sustained growth in the LTH/STH ratio. This accumulation phase could last 4 to 8 weeks, after which, similar to previous cycles, a strong reversal to the upside is likely.
There are also several technical and historical indicators that further strengthen his thesis. The Bitcoin Rainbow Chart , for example, places the cryptocurrency firmly in the “BUY” zone , a situation similar to November 2020, just before the start of a rally with a 450% return, and in May 2017, before the same indicator exploded by 1,400%.
Applying a conservative multiplier of 1.6 to the current price of Bitcoin, Adler estimates a target of $160,000 by the end of August .
In support of this prediction, well-known trader Titan of Crypto identified a “bull flag” formation on the BTC daily charts, suggesting a possible breakout towards $137,000. He also added that the MACD indicator is on the verge of a bullish crossover, a signal often interpreted as triggering a change in price momentum.
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