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June 21, 2026 09:52:03 Sunday
$13 billion Bitcoin options are about to expire, with bears holding the advantage and bulls facing pressure.
$13 billion worth of Bitcoin options will expire on June 26, and the current open interest structure favors the bears.
Bitcoin has fallen about 14% so far in June, with most bullish options concentrated at $68k and above.
Deribit platform holds $10.4 billion in open interest, accounting for 79% of the market share.
Among them, $6 billion in call options open interest, with 78% concentrated above $72k;
Of the $4.5 billion put options, 28% are betting on Bitcoin falling below $57k.
By June 26 expiration, all four scenarios favor the bears, with a net advantage ranging from $68k to $3.4 billion.
Bitcoin rebounded 12% from the $63k level but still struggles to benefit the bulls.
Strategy company bought 62.84k Bitcoin between April and May, pushing the price above $73k, but
U.S. Bitcoin spot ETF continues to see net outflows, and progress on digital asset tax legislation is stalled,
leading to a weakening market sentiment.