Today, Bitcoin prices have once again exceeded $97,000 after dipping to $94,000, driven by the expiration of large options volumes and renewed interest in ETFs.
BTC Price Surged Above $97,000
Bitcoin prices rose above $97,000 today after an earlier decline to $94,700. At the time of writing, BTC is trading above $96,000. This came just before $14 billion in options expired.
Over $14 Billion Options Expired
On December 27, about $14 billion in BTC options expired. Options on 150,000 BTC with a Put Call Ratio of 0.69 and a Maxpain point of $85,000 expired on Deribit. Additionally, 1.12 million ETH options expired with a notional value of $3.74 billion. The market expected volatility, but BTC prices rebounded due to various factors.
Renewed Inflows in Bitcoin ETFs
On December 26, Bitcoin ETFs recorded over $475 million in inflows after four days of outflows. Fidelity's FBTC ETF recorded the most inflow, amounting to $254 million. Total crypto product investments have neared $36 billion since their inception.
Global Bitcoin adoption continues to intensify, affecting its price positively. Given the market's optimism, BTC could potentially retest the $100,000 mark.
