Bitcoin Under Double Pressure From Options Expiration and US Inflation Signals
The crypto market entered a new challenging phase as Bitcoin hovered around $109,000, its lowest level in nearly a month, following a wave of large-scale liquidations. Investor sentiment was fragile as $22 billion in crypto options contracts were set to expire alongside a key US inflation report.
Leverage Wipeout
Data from CoinGlass shows that in just one week, more than $975 million in leveraged positions were wiped out, with ETH accounting for $312 million and BTC nearly $250 million. The correction sent Ethereum plummeting to around $3,800, down more than 14% from last month’s peak, while Bitcoin struggled to hold above key support.
Derivatives in focus
More than $17 billion in Bitcoin options expire on Friday, according to Deribit, making it one of the biggest expirations of the quarter. The price zone centered around $108,000-$109,000 is at risk of becoming a decisive point. If Bitcoin breaks through, hedge orders could trigger a new wave of selling, pushing prices to $96,000.
Macro risks pile up
At the same time, the US core PCE report – an inflation indicator closely watched by the Fed – is due out. While it is expected to show signs of cooling, a “hotter” surprise could boost the US dollar, putting further pressure on risk assets from stocks to cryptocurrencies.
Crypto stocks weaken across the board
Shares of Bitcoin-related companies react negatively. MicroStrategy (MSTR) fell 10%, sending prices to a five-month low. Miners like Marathon Digital (MARA) and Riot Platforms (RIOT) and Ether holders like Bitmine (BMNR) and Sharplink Gaming (SBET) also fell 7-8%.
Long-term view
Despite the short-term market pressure, some analysts believe the larger trend is not broken. Trader @CredibleCrypto said the high-timeframe structure remains bullish as long as Bitcoin holds above the $98,000 support zone or even has some “false breaks” before recovering.
Conclusion
The combination of leverage liquidations, record options expirations, and US inflation data is creating a crucial test for Bitcoin. How prices react in the next few days will shape the overall market sentiment heading into Q4 2025.