比特幣[BTC]期權期權事件將在3月28日結算$ 16.5B的合同

創紀錄的價值165億美元的比特幣[BTC]選項將於3月28日到期，引發了人們對資產的下一個重大行動的強烈猜測。

A record-breaking $16.5 billion worth of Bitcoin (BTC) options are set to expire on the 28th of March, sparking intense speculation about the asset’s next major move.

創紀錄的價值165億美元的比特幣（BTC）期權將於3月28日到期，引發了人們對資產下一個重大行動的強烈猜測。

As traders brace for this significant event, the options market and technical indicators flash crucial signals that could shape Bitcoin’s near-term direction.

隨著交易者為這一重大事件做好準備，期權市場和技術指標閃爍的關鍵信號可能會影響比特幣的近期方向。

Options market sees bullish tilt, but heavy clusters remain

選擇市場看到看漲傾斜，但仍然很重

Data from Coinglass shows massive Open Interest (OI) near the $90K strike price, with a notable tilt toward call options.

來自Coinglass的數據顯示了$ 90K的罷工價格的大量開放興趣（OI），對呼叫選項的傾向顯著。

The notional value of the outstanding contracts has reached an all-time high, highlighting elevated market exposure.

未償還合約的名義價值達到了歷史最高的，強調了市場的提升。

Source: Coinglass

資料來源：小店

Interestingly, a large concentration of call options lies around the $90K and $95K marks, suggesting that bulls are betting on a breakout beyond these resistance levels.

有趣的是，大量的呼叫選項位於$ 90K和95,000美元的範圍內，這表明公牛押注了超出這些阻力水平的突破。

However, there’s also a sizable put cluster near the $80K-$82K range, which means a failure to climb above $90,000 could trigger downward pressure if traders hedge their positions aggressively.

但是，還有一個相當大的投票集群接近$ 80k- $ 82K的範圍，這意味著如果交易者積極地對沖自己的頭寸，則無法攀升90,000美元以上的壓力。

Bitcoin’s technical setup hints at caution despite momentum

儘管動力，但比特幣的技術設置提示

On the 12-hour BTC/USD chart, Bitcoin traded around $86,100, struggling to maintain upward momentum.

在12小時的BTC/USD圖表上，比特幣的交易約為86,100美元，努力保持向上的勢頭。

The 50-day MA at $85,119 acted as near-term support, while the 200-day MA at $94,175 loomed overhead as a key resistance.

50天的MA為$ 85,119，是近期支持，而200天的MA為94,175美元，迫在眉睫的開銷作為關鍵阻力。

Source: TradingView

資料來源：TradingView

Adding to the uncertainty is the Expiry Candle indicator, which marks the current weekly expiry range at $109,358, well above the current price.

不確定性增加的是到期蠟燭指標，該指標標誌著當前的每周到期範圍為109,358美元，遠高於目前的價格。

Historically, option expiry events can introduce volatility spikes but often fail to push BTC beyond key psychological levels unless volume follows through.

從歷史上看，期權到期事件可以引入波動率峰值，但除非批量遵循，否則通常無法將BTC推向關鍵的心理水平。

Low volume and high risk: Can Bitcoin bulls sustain the push?

低容量和高風險：比特幣公牛可以維持推動力嗎？

Volume metrics suggest weakening participation, as reflected in the relatively muted trading activity despite elevated OI.

數量指標表明，儘管OI升高，但在相對靜態的交易活動中反映了參與度削弱。

This divergence indicates that while positions are stacked, actual conviction is low. Even minor price shifts can liquidate traders and spark exaggerated moves in such an environment.

這種差異表明，雖然位置被堆疊，但實際信念卻很低。即使是輕微的價格變化也可以清算交易者，並在這種環境中引發誇張的舉動。

Meanwhile, on-chain data shows some support emerging around the $85K level. If Bitcoin manages to hold this tier through expiry, it could serve as a launchpad for a $90K retest.

同時，鏈上數據顯示了$ 85K級別的一些支持。如果比特幣設法通過有效期來持有這一層，則可以作為90,000美元的重新測試作為發射台。

But a break below could invite short-term selling, especially with heavily skewed leverage.

但是，下面的休息可能會邀請短期銷售，尤其是在偏斜的槓桿率上。

Conclusion

結論

As Bitcoin approaches the upcoming $16.5B options expiry, all eyes are on whether bulls can reclaim $90K or if expiry-induced volatility will drive a temporary pullback.

隨著比特幣接近即將到來的16.5B期權的到期，所有人的目光都關注公牛是否可以收回$ 90K，或者如果到期引起的波動率是否會帶來臨時回調。

With massive OI, mixed signals from technicals, and light volume, the next 48 hours could prove decisive for BTC’s trend in Q2 2025.

借助大量的OI，技術的混合信號和光量，接下來的48小時可能會證明BTC在第二季度2025年的趨勢是決定性的。