Bitcoin Eyes $90K as $24B Options Expiry and Metals Rally Fuel Volatility
Bitcoin (BTC) tested resistance near $90,000 as markets reopened after the holidays, trading up over 2% in Asian hours. Traders highlighted about $24 billion of bitcoin options set to expire around the Wall Street open — an event seen as a potential reset that could remove hedging pressure and allow more "organic" price discovery. Option-driven flows and short-term volatility contributed to more than $200 million in liquidations during the latest move. BTC is attempting to break a two-month downtrend that began in October; analysts say a confirmed daily close above current resistance could open a path to $95,000 and the $100,000 area near the 50-day moving averages (50-day SMA ≈ $91,458; 50-day EMA ≈ $92,651). On-chain commentators and traders expect improved market conditions in January as asset managers rebalance, which could support further upside. At the same time, precious metals extended rallies — gold and silver hit record highs in Asian trading, and silver briefly exceeded bitcoin by market capitalisation on some metrics. Key trading cues for crypto traders: monitor BTC daily close and acceptance above $95K, watch options open interest and expiry flows for reduced hedging pressure, and track 50-day moving averages as resistance near $91–93K and around $100K. This summary does not constitute investment advice.
Neutral
The combined reports point to a neutral near-term outlook for BTC. Bullish factors include a clear technical setup: BTC testing resistance near $90K with a pathway to $95K and $100K if a daily close confirms breakout, plus expectations of improved flows from asset-manager rebalancing in January. These could drive upward momentum. Bearish/volatility factors include a large options expiry (~$24B) that can trigger sharp directional moves and unwind hedges, recent sizable liquidations (>$200M) showing fragile positioning, and a prevailing downtrend since October that has not yet been decisively broken. Short-term price action is likely to be volatile and rangebound around major technical levels (50-day SMA/EMA near $91–93K). For traders, the primary catalysts to watch are the options expiry flows, BTC daily close/acceptance above resistance (confirming breakout toward $95K–$100K), and changes in open interest; these will determine whether the event results in a bullish continuation or a return to downside. Thus, immediate impact is uncertain and should be treated as neutral, with high short-term risk and potential for directional follow-through if breakout conditions are met.