Bitcoin USD faces a decisive moment on Friday, Sept. 27, when $22.6 Bn in
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options expire. The bulk of contracts sit on Deribit, which controls $17.4 Bn in open interest, while OKX and CME account for the rest.
Options allow people to win at first, but then you’re down further and further. Have fun investors! Take the money while you still can!
$BTC usually bottoms in September.
In just 2 days, $17,500,000,000 in Bitcoin options will expire with a max pain at $107,000.
Historically, BTC moves towards max pain during such huge expirations.
I think there's still a big leg down left before reversal. pic.twitter.com/VVlupHXjmq
— Ted (@TedPillows) September 24, 2025
In all seriousness, for crypto bulls, the market could continue to pump as long as Bitcoin holds its footing above the $112,000 support line. Call contracts (bets on higher prices) outnumber puts by a wide margin, with roughly $12.6 Bn in calls vs. $10.2Bn.
“The $112K zone is where the fight is won or lost,” one derivatives trader told 99Bitcoins.
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What Does The Bitcoin USD Open Interest Data Tell Us? Are We Crashing With No Survivors?
Positioning shows that most bearish bets against Bitcoin are clustered between $95,000–$110,000, a range now looking increasingly unlikely. If we crash that low then you’ll find me on the side of the road selling corn. Somebody knock on wood so that doesn’t happen.
Contrastingly, optimistic bulls stacked $6.6 Bn in call exposure at $120,000 and above. Realistically, around $3.3 billion is still in play.
Breakdown of scenarios:
- $107K–$110K: Puts dominate by $1B.
- $110.1K–$112K: Balanced outcome, $1.4B each.
- $112.1K–$115K: Calls ahead by $660M.
Still, BTC options skew — which measures fear — shows 13% in favor of puts, meaning traders are paying more for downside protection despite the bullish lean.
Crypto Market Macro Backdrop: Are We Likely to Make New BTC All-Time Highs in 2025?
This option’s expiry coincides with a packed US calendar: GDP, unemployment claims, and Treasury auctions are all coming soon. The weak labor backdrop has traders speculating the Fed may keep cutting into the close of 2025.
Bond markets already show the shift, with ten-year yields having slid from August peaks, which traditionally eases pressure on Bitcoin.
Technically, $112,000 is the line in the sand. Bitcoin bulls like Michael Saylor are still calling for new ATHs by the end of the year.
“Bitcoin will move up smartly again by end of 2025,” said Michael Saylor, pointing to corporate adoption and ETF growth as structural drivers.
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Have You Missed Out On This Top Presale? Bitcoin Hyper is Trending
In case you’re aiming for bigger gains that crypto presales can ostensibly grant you, Bitcoin Hyper is a token to check out. HYPER has launched as the first Layer-2 chain to run on the Solana Virtual Machine (SVM), promising near-instant settlement and low fees with Bitcoin as the underlying security layer.
Its design relies on a bridge system that sees Bitcoin locked, a wrapped version created, and that token circulates across decentralized applications built on Hyper.
By opening Bitcoin to DeFi, gaming, and tokenized real-world assets, HYPER broadens use cases and trims the circulating supply, two factors that can favor price.
HYPER recently smashed through $18Mn in presale with less than 24 hours before the $0.012975 token round closes. If momentum builds, Bitcoin Hyper’s pitch of Bitcoin-grade security with Solana-style throughput could become a Q4 blue-chip in the crypto presale scene.
There’s also a 320% APY staking option for those who’d rather stack rewards while the ICO winds down. The HYPER crowd is live on Telegram and X for updates and chaos.
Join the Utility HYPE Wave with BTC Hyper Now
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Key Takeaways
- Bitcoin USD faces a decisive moment on Friday, Sept. 27, when $22.6 Bn in BTC options expire. The bulk of contracts sit on Deribit.
- Bitcoin Hyper, a new Bitcoin Layer-2 chain built with the Solana Virtual Machine (SVM), is the first L2 to integrate SVM.
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