Tomorrow is the expiration date for the monthly $BTC & $ETH options (July 25, 08:00 UTC)
The total open interest (OI) for BTC options is about $40 billion, of which 38% (approximately $15 billion) will settle tomorrow.
The max pain price is $102,000, and the market price has a tendency to converge towards it,
According to conventional analysis, the main tug-of-war range should be between $105,000 and $110,000.
However, the issue is that the current Bitcoin price is at $118,000, and unless there is significant negative news or large-scale institutional hedging, it is almost impossible to drive it back down near $105k, so this delivery will not follow the max-pain downward regression scenario.
Based on the current options OI distribution and Gamma Profile, Bitcoin's new key price zone is between $115k and $120k, and the market is predominantly bullish, so a surge is highly likely.
The key tomorrow is whether $BTC can break through $120k.
$LOKA