Bitcoin traders are bracing for the expiration of roughly $15 billion in options contracts on Friday on Deribit, representing more than a third of all bitcoin options open interest. The put-to-call ratio of 0.70 indicates a largely bullish sentiment, with call options concentrated at strikes of $85,000, $90,000, and $100,000. Bitcoin was recently trading around $84,258, above the max pain level of $76,000. Renewed interest in bitcoin follows the cooling of the artificial intelligence stock rally and the U.S. Treasury Department’s announcement that it would at least double its liquidity-support buyback operations, which pushed 30-year Treasury yields down and weakened the dollar.
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