$16.5B in Bitcoin Options Set to Expire March 28
Key Takeaways
- On March 28, 2025, Bitcoin options worth a record-breaking USD 16.5 billion will expire.
- The market shows a strong concentration of call options near the USD 90,000 mark.
- Technical indicators point to a possible short-term correction.
- Trading volume remains low – a warning sign of excessive speculation.
Why March 28 Is Critical for Bitcoin
An exceptionally high volume of Bitcoin options – totalling USD 16.5 billion – is set to expire today. This means many traders must decide whether to close, roll over, or hedge their positions. Expiry days like this often lead to increased volatility, as large market moves can be triggered by hedging activity and liquidations.
Options Market: Focus on USD 90,000
Data from Coinglass shows a notable concentration of call options around the USD 90,000 and USD 95,000 price levels. Call options give the buyer the right to purchase Bitcoin at a specific price – in this case, many are betting on a price increase above those levels.
At the same time, there’s a significant cluster of put options between USD 80,000 and USD 82,000. Put options are used to hedge against falling prices. This distribution indicates a divided market: while some expect a breakout, others are anticipating a correction.
Technical Analysis: Resistance and Support Levels
At the time of analysis, Bitcoin is trading at approximately USD 86,100. The 50-day moving average (MA) at USD 85,119 offers short-term support. The 200-day MA at USD 94,175 represents a major resistance level.
Another signal comes from the so-called “Expiry Candle” indicator. It shows the expected price range for the expiry date – currently at USD 109,358. This is significantly above the current price and highlights a large gap between market expectations and reality.
Trading Volume Remains Weak – Risk Increases
Despite high open interest – meaning many active positions – trading volume remains relatively low. This suggests that while many market participants are holding positions, they are not actively trading. In such situations, even small price movements can trigger large-scale liquidations.
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On-chain data suggests some support around the USD 85,000 level. If Bitcoin manages to hold this level, a retest of the USD 90,000 mark is possible. However, a drop below it could trigger short-term sell-offs – especially in highly leveraged positions.
Our Assessment
Today’s options expiry marks a critical moment for Bitcoin. The high concentration of call options near USD 90,000 shows that many are hoping for a breakout. At the same time, the low trading volume is a reason for caution.
Whether Bitcoin breaks through the USD 90,000 barrier or experiences a short-term pullback will largely depend on the market’s reaction over the next 48 hours. As a trader or investor, it’s important to keep a close eye on the USD 85,000 and USD 90,000 price zones. These levels will determine whether the upward trend continues – or if a correction is imminent.
Sources
- Coinglass
- TradingView
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $85,236.00 |
| 24h % | 3.54 % |
| 7d % | -2.86 % |
| 30d % | -9.32 % |
| 60d % | -16.37 % |
| 1y % | 22.29 % |
| Market Cap | $1,691,750,789,190.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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