Bitcoin News: $3.1 Billion in Bitcoin Options Expire Amid Market Stability

As $3.1 billion in Bitcoin options contracts expire today, the crypto market remains stable despite the significant notional value involved. With a put/call ratio of 0.48, the market sentiment leans bullish, reflecting more call (long) contracts than puts.

How Will Crypto Markets React as $3B in Bitcoin Options Expire Today?

Around 30,000 Bitcoin options contracts are set to expire on Friday, Jan. 24, with a notional value of approximately $3.1 billion. This week's expiry event is slightly larger than last week's but is unlikely to significantly impact the spot crypto markets, which have stabilized after a volatile week. The put/call ratio for this week's batch of Bitcoin options contracts is 0.48, indicating more call (long) contracts than puts (shorts). Open interest is highest at the $120,000 strike price, with $2.4 billion in OI, and $1.7 billion at the $110,000 strike price, reflecting bullish sentiment among derivatives traders.

Bitcoin Demand From Retail Investors Remains Strong At $100K – Key Metrics Reveal

Bitcoin has been navigating a period of massive volatility and uncertainty, leaving the market on edge as price action hints at a significant move on the horizon. After holding above the critical $100,000 level, BTC has demonstrated resilience despite the turbulence. This key psychological and technical support has reinforced Optimism among investors, who are now preparing for the possibility of a powerful rally in the coming weeks. Recent data from Glassnode adds to the bullish outlook, highlighting strong demand from retail investors at current price levels. According to the on-chain analytics platform, retail participation remains robust, with significant buying activity observed around the $100K mark. This growing interest underscores the confidence smaller investors have in Bitcoin’s long-term potential.

Coinbase CEO Advocates for Bitcoin as Superior Money and Government Reserves

Coinbase CEO Brian Armstrong has publicly endorsed Bitcoin as a superior form of money compared to traditional assets like gold. He highlighted Bitcoin's advantages such as decentralization, scarcity, divisibility, portability, and fungibility. Armstrong also urged governments to consider holding Bitcoin as part of their reserves. This statement came in response to the South African Reserve Bank Governor Lesetja Kganyago's skepticism about the strategic value of Bitcoin as a government-held asset. Armstrong's comments were made in a detailed post on X (formerly Twitter), where he also compared Bitcoin's market capitalization to that of gold, suggesting Bitcoin's growing prominence in the financial landscape.

Binance Founder Changpeng Zhao: US Bitcoin Reserve ‘Pretty Much Confirmed’

Sen. Cynthia Lummis (R-WY), who chairs the US Senate panel on crypto assets, has promised significant changes in government policy for the cryptocurrency sector. One of the key proposals is the creation of a Bitcoin sovereign wealth fund, referred to as a 'strategic national reserve' by Republicans. This proposal has already sparked bullish activity in the markets. Over the weekend, Bitcoin whales were actively accumulating more Bitcoin. Following the Republican takeover of Congress after the November election, the US Senate Banking Committee has established its first subcommittee panel on cryptocurrencies. Binance founder Changpeng Zhao has indicated that the US Strategic Bitcoin Reserve is 'pretty much confirmed,' signaling rapid developments in the crypto space.

Bitcoin Steady Near $104K After Bank of Japan Delivers Hawkish Rate Hike

Bitcoin (BTC) remained stable during Friday's Asian trading hours despite the Bank of Japan (BOJ) raising its benchmark borrowing cost to the highest level in 17 years. The BOJ also increased its inflation forecasts, signaling a positive outlook on wages and indicating that further rate hikes could be expected. The Japanese yen strengthened by over 0.6% against the U.S. dollar following the rate decision, but risk assets, including Bitcoin, showed resilience. The cryptocurrency market is currently focused on positive developments under Trump's presidency, which may be influencing market sentiment.