Massive Options Expiry Puts Bitcoin’s Next Breakout to the Ultimate Test
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Bitcoin October’s final week has been anything but calm. Despite the Federal Reserve’s rate reduction, Jerome Powell’s cautionary tone on inflation reignited selling pressure across risk assets. Bitcoin briefly plunged to $106,000, dragging altcoins lower before bargain hunters stepped in late Thursday, stabilizing prices ahead of Friday’s expiration events. Deribit data shows that $15.9 billion worth of options contracts are set to expire on October 31 — $13.4 billion in Bitcoin and $2.5 billion in Ethereum. The simultaneous expiry of weekly and monthly contracts is expected to inject short-term volatility, with Bitcoin’s “max pain” level sitting around $114,000 and Ethereum’s at $4,100. Both assets remain below these levels, with BTC hovering near $108,000 and ETH trading around $3,830. Traders say this positioning suggests limited upside before expiry, as markets gravitate toward equilibrium zones. Bitcoin Must Break $112K to Reach a New All-Time High Amid the uncertainty, market analyst Michaël van de Poppe believes Bitcoin’s next decisive moment is close. In his latest market update, he identified $112,000 as the crucial breakout threshold for BTC, arguing that clearing it could pave the way for a new all-time high in November. #Bitcoin needs to break $112K and that’s the crucial level before a new ATH. Mentioned it before, and it’s still valid. I do think we’ll see a new ATH in November. However, it did hit support. If this level is lost for Bitcoin, then we’re looking at a sweep of $103K or even… pic.twitter.com/XJQRo5CAvV — Michaël van de Poppe (@CryptoMichNL) October 30, 2025 “Bitcoin needs to break $112K — that’s the critical level before a new ATH,” van de Poppe wrote, adding that he still expects record highs within weeks if the breakout succeeds. However, he also warned that the current structure remains fragile. If support around $107,000 fails, Bitcoin could…
Filed under: News - @ October 31, 2025 12:30 pm