Bitcoin Steady Below $90K as $30 Billion Options Expiry Approaches

Bitcoin Holds Steady Below $90K Amid Major Options Expiry

Bitcoin continues to hover in a consolidation phase on December 25, 2025, currently trading at $87,472. The cryptocurrency's price action comes against the backdrop of a significant options expiry event, as the market digests various institutional developments.

Spot ETF Outflows Continue

Spot Bitcoin exchange-traded funds are facing ongoing net outflows, reflecting a cautious sentiment among institutional investors in the current market cycle. This persistent capital withdrawal indicates that some market participants may be taking profits or reducing their exposure at the current price levels.

Massive Options Expiry Looms

The cryptocurrency market is bracing for a crucial test this Friday at 8:00 am UTC when approximately $30.3 billion worth of Bitcoin options contracts are set to expire. This event represents one of the largest options expiries in recent months and could introduce significant volatility to Bitcoin's price.

Analysis of the expiring contracts shows that the majority of Bitcoin call options have strike prices significantly above the current spot price of $87,472. Such positioning suggests that many bullish bets placed in previous weeks might expire worthless, potentially diminishing immediate upward pressure on Bitcoin’s price after the expiry.

Metaplanet Secures Bitcoin Accumulation Approval

In a noteworthy corporate development, Metaplanet has received approval for a comprehensive Bitcoin accumulation plan. This strategic decision places the company among an increasing number of institutional entities integrating Bitcoin into their treasury strategies. Although specific details regarding the accumulation plan's scope and timeline remain undisclosed, this approval signifies a significant step toward mainstream corporate adoption of cryptocurrency as a reserve asset.

Market Implications

The convergence of these factors illustrates a market in transition. Persistent ETF outflows and below-strike call options imply short-term bearish pressure, while corporate initiatives such as Metaplanet’s approved plan highlight continued long-term confidence in Bitcoin’s value proposition.

The impending options expiry could act as a catalyst for price movement in either direction, depending on how market makers adjust their hedging positions and whether traders choose to initiate new positions following the settlement.

Conclusion

As Bitcoin sustains its position beneath the psychologically significant $90,000 threshold, market participants are weighing short-term technical factors against long-term adoption trends. The critical next 48 hours, encompassing the major options expiry, will likely provide the clarity needed to determine the near-term directional bias.

Why It Matters

For Traders

Traders should prepare for potential price volatility that could arise from the options expiry, making it essential to monitor market movements closely.

For Investors

Long-term investors may find reassurance in corporate actions like Metaplanet’s, which indicate an ongoing commitment to Bitcoin as a valuable asset, despite short-term market turbulence.

For Builders

Developers and builders in the crypto space should consider the implications of institutional interest and the unfolding regulatory landscape as compelling opportunities to innovate and create sustainable projects.