$3B Bitcoin Options Expiry Looms: Will BTC Reclaim $107K or Slide Below $100K?

The crypto market is bracing for a potential storm as nearly $3 billion worth of Bitcoin options are set to expire on Friday, June 14. With volatility rising and Bitcoin stuck near the $104,000 level, traders are eyeing a critical zone between $101K and $107K for clues about the next move.

📊 Key Expiry Details
Deribit data shows $2.96B in BTC options expiring at 08:00 UTC, marking one of the largest expirations this quarter. The put-to-call ratio sits near 0.95, hinting at slightly bullish sentiment. However, the max pain level – where the most options buyers stand to lose – is at $107,000. BTC currently trades well below that, suggesting tension as expiry nears.

💡 Why it matters: Large expiries often act as gravitational zones. When open interest is high and volume low, prices tend to gravitate toward max pain due to trader positioning. A move back to $107K isn’t off the table — if short positions unwind and momentum builds.

🧯 ETH Follows Suit – With More Caution
Ethereum also faces a significant expiry event with $678M in contracts maturing. But sentiment is more bearish, with a put-to-call ratio of 1.23, reflecting greater downside hedging following ETH’s recent 8.9% price drop.

🧭 Technical Setup
Bitcoin has dipped under its 20-day moving average, often a sign of short-term weakness. RSI is now trending below 50 — a warning flag for momentum traders. But there’s a silver lining: if BTC holds above $101K and reclaims $105K before the expiry, a short squeeze could propel it toward the key $107K resistance.

Conversely, a break below $101K opens up the path to deeper support levels at $97,800 and $95,000, possibly triggering broader correction sentiment.

🌍 Macro Headwinds
The market’s fragility is worsened by geopolitical uncertainty after a military escalation between Israel and Iran. With the crypto market down 7% this week, the June 14 expiry adds another layer of volatility risk.

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