Bitcoin

traded in a tight range just during U.S. hours Thursday ahead of a big options quarter expiry on Friday.

The top cryptocurrency is currently trading for $107,500, down 0.2% in the past 24 hours, while the CoinDesk 20 — an index of the top 20 coins by market capitalization, except for stablecoins, exchange coins and stablecoins — lost 0.9% in the same period of time.

“This Friday marks one of the largest option expiries of the year on Deribit,” Jean-David Péquignot, chief commercial officer at Deribit, told CoinDesk. BTC options open interest stands at $40 billion, Péquignot said, and 38% of these contracts will expire on Friday.

“Max pain price for Friday is at $102,000, with a put/call ratio of 0.73,” said Péquignot.

Bitcoin’s implied volatility, measured by Deribit DVOL, dropped to 38% from 50% in what was a wild April, signaling perhaps that the market is increasingly confident in the cryptocurrency’s macro-hedge role, according to Péquignot. Meanwhile, put-call skews show no clear directional positioning for traders in the short-term.

“Bitcoin’s $105,000 level is pivotal, with technicals suggesting caution if support fails,” Péquignot said. “Low open interest in perps and fairly depressed Bitcoin implied volatility and skew are indicative of limited expectations for sharp price movements going into Friday’s expiry.”

A number of crypto stocks are managing gains on Thursday, with Core Scientific (CORZ) surging more than 33% off of a Wall Street Journal report that the bitcoin miner may soon be acquired by AI Hyperscaler CoreWeave (CRWV).

Circle (CRCL), Coinbase (COIN), Riot Platforms (RIOT) and Hut 8 (HUT) were higher by 5%-7%, while Strategy (MSTR) was lower by nearly 1%.

Bitcoin is headed towards its largest option expiry of 2025 at around $13.8B on May 30. Just a week earlier, the OG crypto crossed its previous high of $109K and made a new all-time high.

However, over the past week, the prices have corrected by around 3%, meaning $BTC is now trading at around $108K.

The battle between the bulls and the bears has gotten intense, and we expect a great tussle between the two to keep $BTC prices above $109K.

In this article, we’ll provide a complete breakdown of the current Bitcoin option expiry scenario. We’ll also suggest the best crypto to buy now to benefit from $BTC’s potential rally.

$109K Is a Crucial Level for $BTC

Option data shows that the $109K level is the most crucial level for Bitcoin option traders. Out of the total options, $6.5B are put options. However, 95% of put options are below $109K.

So, if $BTC stays above this level, 95% of these options will expire worthless, meaning they’ll lead to a loss for bears. Short sellers were already caught off guard by Bitcoin’s 25% rally in the last 30 days.

Conversely, there are around $3.8B worth of call options up to $109K. This means that bulls will earn massive profit if $BTC holds above this level.

Institutional data shows that there was a net flow of $1.9B Bitcoin ETFs between May 20 and May 22. This proves that corporations are still buying BTC above $105K.

The only hope for bears at this point is a macroeconomic shock or news that could see Bitcoin tumble to a certain extent.

It’s worth noting that there’s also an open interest of $79B in the Bitcoin futures market with a lot of short positions. This indicates that bears are trying their best to ensure Bitcoin doesn’t sustain the $109K mark come May 30.

That said, the bulls seem to be more in control of the markets as of now. Here’s a table to help you understand.

As you can see, under all four scenarios, it is the bulls that ultimately benefit. The higher Bitcoin goes from here, the more profit bulls take home.

With just seven days left in the month, one can expect a bit of volatility in the Bitcoin market.

However, the bias is largely green, with experts having already predicted that $BTC might cross $200K by the end of the year.

If you want to ride this potentially once-in-a-lifetime opportunity, here are some top altcoins you can invest in right now.

1. BTC Bull Token ($BTCBULL) – Best Crypto to Buy Right Now

BTC Bull Token ($BTCBULL) stands out from other Bitcoin-inspired altcoins because it’s the only one offering free $BTC airdrops to its token holders.

It’s the best crypto to invest in if you want to make the most of Bitcoin’s upcoming rally without having to shell out an eye-watering sum to invest in Bitcoin itself, which is currently priced at over $108K.

Every time Bitcoin pushes through a new landmark, such as $150K, $200K, or $250K, for the first time, $BTCBULL holders will automatically receive their share of free $BTC.

It’s worth noting, though, that you must store your purchased $BTCBULL tokens in Best Wallet.

Additionally, the project will also follow a deflationary approach, meaning a part of the total token supply will be shaved off at regular intervals – every time Bitcoin’s price rises by $25K, to be precise.

A continuously decreasing token supply will ensure the demand continues to increase, which will ultimately boost the token’s trading volume and price.

To join the ‘Bull Army,’ buy $BTCBULL today. Luckily for you, the project is still in presale ($6.2M+ raised), meaning you can grab it for a low price of $0.002525.

2. Solaxy ($SOLX) – First-Ever L2 on Solana with $40M in Presale Funding

Solaxy ($SOLX) is one of the best crypto presales on the market today, and for good reason. After all, it’s set out to resolve Solana’s congestion and scalability issues.

After the successful launches of $TRUMP and $MELANIA, Solana saw an unprecedented increase in investor activity. This overwhelmed the otherwise meme coin-friendly blockchain, resulting in failed transactions.

Solaxy, however, will solve this by building the first-ever Layer 2 scaling protocol on Solana.

It will offload a huge chunk of the transactions from Solana’s mainnet onto a sidechain, thereby reducing the burden on Solana and cranking up its efficiency.

Moreover, the L2 will also execute transactions in batches – rather than one by one – which will improve Solana’s affordability, as the fees required per transaction will go down.

With Solana set to take center stage in the rapidly growing DeFi landscape, Solaxy is going to be one of the biggest beneficiaries of this movement.

Don’t miss out on possibly the next crypto to explode and buy Solaxy now for just $0.001734.

Hurry up, though, because the presale ends in around three weeks, following which $SOLX will be live on all major exchanges.

Our Solaxy price prediction suggests that the token could explode 11,500% and reach $0.20 by 2030.

3. Trump Dinner ($DINNER) – Donald Trump’s Historic ‘Crypto Dinner’ Has a Meme Coin

$DINNER is the newest addition to the list of Trump-inspired meme coins that have taken the market by storm.

As the name suggests, Trump Dinner is based on Donald Trump’s unprecedented move to invite the top holders of the $TRUMP meme coin for an exclusive dinner gala.

As per the announcement on the OFFICIAL TRUMP website, the top 220 holders of $TRUMP will be invited to Donald Trump’s private Virginia golf club.

The ‘crypto dinner,’ which has raised both appreciation and scrutiny from the crowd, is scheduled for tonight, i.e., May 24.

So, in the lead-up to it, $DINNER, a new meme coin based on the event, has painted the town red (green).

$DINNER launched just a couple of days ago and has already gained over 180,000%. It’s up close to 1,000% in the past 24 hours and shows no signs of stopping until, at least, a few days after the dinner.

That’s because, according to the aforementioned announcement, the top 25 $TRUMP holders will be invited to a ‘special tour’ and ‘private VIP reception with the President.’

DYOR Before Investing in the Best Crypto to Buy

Despite $BTC’s confidence-inspiring form, it’s worth remembering that the crypto market is rife with volatile news events and, therefore, uncertainty.

Invest carefully and ideally only an amount you’re comfortable losing. Also, kindly do your own research. This article isn’t a substitute for professional financial advice.