
As the end-of-year $10.1 billion BTC options expiry approaches, Bitcoin bulls and bears are gearing up for a significant event on Dec. 29. Currently, call options hold an advantage, but bears can mitigate their losses by pushing the price below $42,000. With both sides incentivized to influence Bitcoin's spot price, the outcome can be assessed based on the expiry price. Notably, Deribit leads the options market with an impressive $7.7 billion open interest, followed unexpectedly by the Chicago Mercantile Exchange (CME) at $1.38 billion. The CME's open interest dwarfs that of OKX, in third place with $630 million.
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