Bitcoin Price Rebounds to $113K, Dominance Nears 59%
Bitcoin price rebounded to $113,000, its highest level since late August, as BTC dominance climbed to 59%. The Bitcoin price rally coincided with the expiry of $3.28 billion in Deribit options, aligning spot trading with the max pain theory. Option sellers pushed spot price toward the $112,000 max pain level ahead of Friday’s expiry. Renewed capital inflows drove Bitcoin’s market share from 57.5% to nearly 59%, outpacing Ethereum and other altcoins. Traders now await the U.S. jobs report for fresh market direction. This combination of technical recovery, options-driven momentum, and macroeconomic catalysts underpins a bullish outlook for short-term Bitcoin trading.
Bullish
Bitcoin’s price rebound to $113K and rising dominance signal strong bullish momentum. The alignment of spot trading with the $112K max pain level during a $3.28B options expiry underscores institutional influence. Historically, options-driven bounces around expiry have foreshadowed short-term rallies, as seen in previous expiries in June and August. The uptick in BTC’s market dominance reflects renewed capital inflows at the expense of altcoins. Furthermore, the imminent U.S. jobs report introduces a macro catalyst that could further accelerate buying. In the short term, traders can expect continued upside as technical and options factors converge. Long-term, sustained dominance and positive macro data may reinforce Bitcoin’s leadership in the crypto market.