Analysis: Bitcoin tests the $90,000 mark, $2.4 billion options expiry may ease market pressure

Foresight News reported, citing Cointelegraph, that as traditional financial markets resume trading after the Christmas holiday, bitcoin is testing the $90,000 mark, while gold and silver have reached all-time highs. The market is currently focused on the expiration of approximately $2.4 billion worth of bitcoin options. Trader BitBull stated that as the options expire, the hedging pressure that previously suppressed prices may dissipate, leading to a clearer market direction.

Analyst Michaël van de Poppe noted that asset management firms will undergo asset reallocation in January. With commodities and tech stocks at high levels, cryptocurrencies and bitcoin may benefit from this shift. The analysis account Crypto Ideology pointed out that if bitcoin confirms a breakout from the downward trend since October, the target range could be set at $95,000 to $100,000.