{"id":882317,"date":"2026-01-01T02:26:31","date_gmt":"2026-01-01T08:26:31","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/01\/01\/bitcoin-slips-below-88000-as-traders-brace-for-28-5-billion-deribit-options-expiry\/"},"modified":"2026-01-01T02:26:31","modified_gmt":"2026-01-01T08:26:31","slug":"bitcoin-slips-below-88000-as-traders-brace-for-28-5-billion-deribit-options-expiry","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/01\/01\/bitcoin-slips-below-88000-as-traders-brace-for-28-5-billion-deribit-options-expiry\/","title":{"rendered":"Bitcoin slips below $88,000 as traders brace for $28.5 billion Deribit options expiry"},"content":{"rendered":"

Bitcoins <\/p>\n

\n

Bitcoins Bitcoin slips below $88,000 as traders brace for $28.5 billion Deribit options expiry<\/h2>\n

Bitcoins Crypto continues to lose ground ahead of this week’s record options expiration, while defensive positioning and thinning liquidity suggest caution into 2026.<\/h2>\n

Updated Dec 22, 2025, 8:46\u202fp.m. <\/span>Published Dec 22, 2025, 8:46\u202fp.m. <\/span><\/p>\n<\/div>\n

\n

Bitcoin BTC<\/span><\/svg><\/span>$87,617.03<\/span><\/span><\/span><\/a><\/span> and other crypto assets again fell steadily through the U.S. session on Monday, with BTC sliding below $88,000 after earlier having climbed above $90,000 and ETH ducking back below $3,000.<\/p>\n

Some crypto-related stocks are still holding gains, led by Hut 8 (HUT), which continues to rise following its deal last week for a 15-year AI data center lease with Fluidstack<\/a>. Shares are higher by 16% Monday, helped by a price target increase <\/a>Benchmark’s Mark Palmer.<\/p>\n

Other names in the green include Coinbase (COIN) and Robinhood (HOOD), though both are well off session highs as crypto prices have pulled back. Strategy (MSTR) has swung from a 3% gain to a modest loss late in the day.<\/p>\n

Options expiration<\/h4>\n

The recent highly choppy price action between $85,000 and $90,000, comes ahead of Friday’s record-setting $28.5 billion in BTC and ETH options expirations on crypto derivatives exchange Deribit. That amount represents more than half of Deribit’s $52.2 billion in open interest, noted Jean-David Pequignot, the exchange’s chief commercial officer.<\/p>\n

“This year-end expiry marks the culmination of a year defined by institutional maturity and a shift from speculative cycles to a policy-driven supercycle,” said Pequignot.<\/p>\n

At the center of the action, Pequignot continued, is bitcoin\u2019s $96,000 \u201cmax pain\u201d level, where option writers stand to benefit most. A notable $1.2 billion in open interest is clustered at the $85,000 strike in puts, which could pull spot prices lower if selling pressure builds. While mid-term call spreads targeting $100,000\u2013$125,000 remain in play, short-term protective puts have grown more expensive, he said.<\/p>\n

The skew between call and put pricing has dropped from recent highs but still indicates caution, Pequignot continued.<\/p>\n

Traders appear to be rolling defensive positions forward rather than closing them out, he said. According to P\u00e9quignot, there’s been a shift from December $85,000\u2013$70,000 puts into January $80,000\u2013$75,000 put spreads. This suggests that while the immediate risk into year-end is being covered, traders remain wary of what\u2019s ahead. <\/p>\n<\/div>\n

\n

More For You<\/p>\n

\n
\n

KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market<\/p>\n<\/div>\n

\n
\"bitcoins<\/figure>\n

KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.<\/p>\n

\n

What to know: <\/p>\n

\n