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Bitcoin Retreats Below $88K as Record $28.5B Options Expiry Looms

Bitcoin Retreats Below $88K as Record $28.5B Options Expiry Looms

Author:

Global Cryptocurrency

Published:

2025-12-23 09:01:02

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BTCCSquare news:

Cryptocurrency markets showed signs of strain as Bitcoin surrendered its $90,000 foothold, sliding below $88,000 amid cautious positioning ahead of Deribit's historic options expiry. The exchange will settle over $28.5 billion in BTC and ETH contracts Friday - a watershed moment reflecting institutional maturation of crypto derivatives markets.

Traditional equities marched higher during the holiday-shortened session, with the S&P 500 gaining 0.6% and the Dow adding 228 points. The divergence underscores lingering risk appetite in conventional markets despite crypto's pullback.

Traders are constructing defensive positions through December put rolls into January $75,000-$80,000 spreads. Jean-David Pequignot of Deribit noted Bitcoin's $96,000 level represents 'max pain' - the strike price where option writers WOULD maximize profits.

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