Bitcoin Options Market Braces for a Major Reset as Traders Split on Direction
The post Bitcoin Options Market Braces for a Major Reset as Traders Split on Direction appeared on BitcoinEthereumNews.com.
Bitcoin A rare split is emerging in the Bitcoin derivatives market: one group positioning for a deeper correction, and another preparing for a renewed breakout above six figures. Key Takeaways: Traders are split between bearish hedges and six-figure BTC breakout bets. $13.7B in BTC options expire Nov. 28, setting up a major reset point. High open interest shows traders are staying positioned despite fear. The clash of expectations is building into Friday’s expiry, which will settle one of the largest options batches of the year. Two Camps, One Expiry Unlike typical months, where directional consensus becomes clear in the final days before settlement, November is closing with an unusually polarized board. On one side, traders are stacking downside protection beneath $85,000, preparing for continued fear-driven selling. On the other, a wave of longer-dated calls is accumulating around $102,000–$105,000, targeting renewed strength once the expiry dust settles. There is little in between — very few bets are priced around current levels. Why the Stakes Are Higher This Time Options traders aren’t responding to public sentiment — they’re responding to liquidity risk. When Bitcoin dropped into the $80,000 zone last week, the fear wasn’t the price itself but the speed of the move. Liquidations and funding swings pushed volatility to a six-month high, forcing traders to pick a side rather than stay exposed in the middle. That behavior caused a surge in derivatives activity rather than withdrawals.Deribit — the dominant venue for crypto options — now carries $43B in open interest, the most contracts ever held on the exchange. Expiry Doesn’t Say Where BTC Will Go — But It Will Decide Who Gets Hurt Roughly $13.74B in Bitcoin contracts will expire on November 28. The maximum-pain price sits at $100,000, but Deribit traders aren’t betting on a last-minute squeeze to get there.…
Filed under: News - @ November 27, 2025 1:22 pm