Bitcoin Options Market Nearing Expiry: Unusual Investor Activity Signals Major Move Ahead

Bitcoin and Ethereum options approach critical expiry dates—and the trading patterns look anything but normal.

The Unusual Activity

Large positions shifting hands. Open interest concentrations at specific strike prices. Whales making calculated bets ahead of the monthly expiry window. This isn't your typical options rollover—something bigger appears to be brewing beneath the surface.

Market Positioning

Traders stacking calls at resistance levels while simultaneously building put walls at key support zones. The divergence suggests conflicting expectations—or sophisticated hedging strategies playing out. Either way, the options market volatility skew tells its own story about where smart money thinks prices might head next.

Expiry Implications

When billions in notional value hit expiry simultaneously, the resulting gamma exposure can trigger violent price swings. Market makers hedging their positions create feedback loops that amplify moves in either direction. This time, the positioning appears particularly lopsided.

Because nothing says 'sophisticated investing' like placing massive bets on digital assets that could either moon or crash based on a single Elon Musk tweet.

Push for Bitcoin integration

Jack Dorsey recently retweeted a post from the pseudonymous developer behind the “Bitcoin for Signal” campaign, stating:

“@Signalapp should use Bitcoin.”

The campaign proposes integrating Cashu’s “Chaumian Ecash” solution, which would allow truly private bitcoin payments within Signal.

Support has come from other Bitcoin figures, including developer Peter Todd, who criticized Signal’s existing MobileCoin (MOB) integration and called for Bitcoin support instead. Peter Todd said:

“I’ve been wanting to try MobileCoin. But it’s such a failure I can’t even buy any. Signal App needs to accept reality and just add Bitcoin support.”

Privacy concerns

Not everyone agrees with the move.

Some critics argue that Bitcoin’s base LAYER does not provide robust privacy, making it an odd fit for a privacy-first messenger.

José Pedro Sousa, an engineer at Aztec Network, questioned using a public blockchain with a private chat app.

Others, like digital rights group Techlore, warned that Bitcoin could compromise user privacy. Privacy coins such as Monero and Zcash were suggested as better alternatives.

Signal’s user base and potential impact

If implemented, Bitcoin integration could allow Signal’s massive user base to conduct peer-to-peer payments with enhanced privacy through Cashu.

Dorsey has long argued that Bitcoin’s success depends on its use for everyday payments, not just as a store of value—as originally envisioned by Satoshi Nakamoto.

EU privacy debate intensifies

The push for privacy-centric payment solutions comes as the European Union debates the “Chat Control” law, which WOULD force messaging apps to hand over user messages, threatening end-to-end encryption. Germany has opposed the proposal, and a final vote has been delayed until December.