[US Morning Briefing] Increasing Cryptocurrency Options Rollover, a Sign of Bitcoin Breaking $100,000?

Welcome to the US Morning Cryptocurrency News Briefing. We will comprehensively summarize today's important cryptocurrency developments.

Prepare your coffee to review BTC price forecast data and gain insights into the current sentiment of the options market. Today, the last Friday of April, monthly options expired at 8:00 UTC on the cryptocurrency derivatives exchange Deribit.

Bitcoin $100,000 Expectations

In the early Asian session, Bitcoin and Ethereum options expired over $8 billion. Among these, BTC option contracts accounted for over $7 billion in nominal value.

Interestingly, Bitcoin was far above the maximum pain price of $86,000. Generally, as options expiration approaches, the asset's price tends to converge to the maximum pain level. Minutes before option expiration, Bitcoin was trading at $93,471, and is currently selling at $94,581.

BeInCrypto contacted Bitfinex analysts to gain insights into the current market outlook and short-term Bitcoin price forecast. According to analysts, Bitcoin price could record further increases after removing options-based resistance.

"After expiration, the market is cautiously showing strength, and the $90,000 strike cluster has now been removed, reducing options-based resistance," Bitfinex analysts told BeInCrypto.

Additionally, analysts observed that many traders have shifted exposure to higher strikes, with call open interest increasing for April-end and May expirations in the $95,000 and $100,000 ranges.

This reflects expected continued increases, though analysts did not rule out potential short-term volatility.

This aligns with Deribit analysts' statement that the highest BTC option open interest was around the $100,000 strike price, indicating strong market expectations that Bitcoin will reach this level.

As reported by BeInCrypto, analysts explained this is attributable to traders selling cash-secured put options on Bitcoin, who also use stablecoins to collect premiums while purchasing BTC at lower prices.

BeInCrypto also reported that the cumulative delta (CD) for BTC and related ETF options on Deribit reached $9 billion. Bitfinex analysts agree that spot flows and ETF demand are increasing.

"Spot flows and ETF demand have significantly increased for BTC over the past few days, and will continue to determine whether BTC can establish $90,000 as a support level," analysts added.

Meanwhile, these predictions are added to the list of bullish bets on Bitcoin price, reliably confirming sentiments shared in previous US cryptocurrency news publications.

However, despite strong Bitcoin price outlook, some analysts urge investors to moderate optimism. One such is Inokenty Isus, CEO of Pavise Exchange.

"Current market outlook suggests Bitcoin price may face stronger resistance ahead. Tariff war uncertainties over the past two months have caused abnormal concerns for investors, with many deciding to temporarily avoid more volatile assets like Bitcoin," Isus told BeInCrypto.

Moreover, the Federal Reserve noted inflation risks that could be introduced by tariff wars. Nevertheless, Isus acknowledged clear signs of continued BTC accumulation by institutional investors and market whales.

Today's Chart

This chart shows that the top Bitcoin options by trading volume over the past 24 hours are call options with strike prices of $95,000 and $100,000, expiring on May 2nd.

Today's Major News

• Bitcoin rose by 25% in April, and according to the crypto fear and greed index, market sentiment has shifted from fear to greed.
• Cardano rose by 15% in a week, maintaining a bullish structure despite a decrease in trading volume and initial adjustment signals near key price levels.
• Bitcoin ETF recorded inflow for 5 consecutive days, with $442 million added on Thursday, bringing the weekly total to $2.68 billion.
• Base Blockchain's Total Value Locked (TVL) surged, increasing by $557 million to $3.335 billion after Binance.US's ETH and USDC transfer integration.
• SUI token surged by 62% this week, with rumors of collaboration with Pokemon spreading due to Parasol Technologies' involvement.
• World Liberty Financial's USD1 stablecoin is subject to EU's MiCA regulation, which must comply with transparency, reserve backing, and conflict of interest rules.
• Arbitrum was rejected from Nvidia's Ignition AI Accelerator program, due to Nvidia's risk management strategy of excluding cryptocurrency-related projects.

Cryptocurrency Stock Pre-Market Overview