BTC and ETH Open Interest Drops Ahead of Christmas Options Expiry

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BTC price and open interest have both dipped ahead of the Christmas options expiry, with Bitcoin’s OI dropping $3bn and Ethereum’s falling $2bn. The market faces a record $23.7bn BTC options expiry on Friday, with key strikes at 100k and 85k. While 85k puts have seen a slight decline, 100k calls remain steady, showing some residual optimism for a Santa rally. The fear and greed index suggests easing stress, with risk reversals returning to normal. Tax-loss harvesting and thin liquidity could cause short-term swings, but January’s liquidity may smooth out price action.
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