Approximately $15.6 billion in Bitcoin options expired on Deribit on September 25, clearing a large concentration of derivatives positions. Bitcoin traded around $83,600 after settlement, below the week’s high near $87,000 but still well above earlier trading ranges. XRP rose approximately 15% over seven days while Solana gained about 9%, both outperforming Bitcoin and suggesting the expiry did not trigger a broad flight from crypto risk. With the September quarterly book cleared, Bitcoin’s next move should depend less on traders managing that expiry and more on whether buyers are willing to keep supporting the rally.
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