Bitcoin options with a nominal value of 7.8 billion dollars will expire at the end of the month, with the biggest pain point being 98,000 dollars

According to Cointelegraph, Bitcoin options worth $7.8 billion will expire en masse at 08:00 UTC on January 31, with about 50% being put options. The current price of Bitcoin is higher than the maximum pain point price of $98,000 and may guide the market price towards this point before expiration. Deribit data shows that the nominal value of total outstanding Bitcoin options is approximately $28 billion, with contracts expiring this time accounting for about 22.6%.

Deribit CEO Luuk Strijers stated that the US SEC has issued SAB 122, formally revoking SAB 121 which prevented banks from holding cryptocurrencies and could release new institutional funds inflow. In addition, market speculation about Bitcoin strategic reserves has also increased uncertainty. Currently, the Bitcoin Volatility Index (DVOL) is around 60, level with year-end levels but market volatility remains high.