比特币[BTC]期权期权事件将在3月28日结算$ 16.5B的合同

创纪录的价值165亿美元的比特币[BTC]选项将于3月28日到期，引发了人们对资产的下一个重大行动的强烈猜测。

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.

创纪录的价值165亿美元的比特币（BTC）期权将于3月28日到期，引发了人们对资产下一个重大行动的强烈猜测。

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

随着交易者为这一重大事件做好准备，期权市场和技术指标闪烁的关键信号可能会影响比特币的近期方向。

Options market sees bullish tilt, but heavy clusters remain

选择市场看到看涨倾斜，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.

来自Coinglass的数据显示了$ 90K的罢工价格的大量开放兴趣（OI），对呼叫选项的倾向显着。

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

未偿还合约的名义价值达到了历史最高的，强调了市场的提升。

Source: Coinglass

资料来源：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，大量的呼叫选项位于$ 90K和95,000美元的范围内，这表明公牛押注了超出这些阻力水平的突破。

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，还有一个相当大的投票集群接近8万美元至82K $ 82K的价格，这意味着如果交易者积极地对冲自己的头寸，则无法攀升90,000美元以上的压力。

Bitcoin’s technical setup hints at caution despite momentum

尽管动力，但比特币的技术设置谨慎

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

在12小时的BTC/USD图表上，比特币的交易约为86,100美元，努力保持向上的势头。

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为$ 85,119，是近期支持，而200天的MA为94,175美元，迫在眉睫的开销作为关键阻力。

Source: TradingView

资料来源：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.

不确定性增加的是到期蜡烛指标，该指标标志着当前的每周到期范围为109,358美元，远高于目前的价格。

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

从历史上看，期权到期事件可以引入波动率峰值，但除非批量遵循，否则通常无法将BTC推向关键的心理水平。

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

低容量和高风险：比特币公牛可以维持推动力吗？

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

数量指标表明，尽管OI升高，但在相对静态的交易活动中反映了参与度削弱。

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.

这种差异表明，虽然位置被堆叠，但实际信念却很低。即使是轻微的价格变化也可以清算交易者，并在这种环境中引发夸张的举动。

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.

同时，链上数据显示了$ 85K级别的一些支持。如果比特币设法通过有效期来持有这一层，则可以作为90,000美元的重新测试作为发射台。

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

但是，下面的休息可能会邀请短期销售，尤其是在偏斜的杠杆率上。

Conclusion

结论

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.

随着比特币接近即将到来的16.5B期权的到期，所有人的目光都关注公牛是否可以收回$ 90K，或者如果到期引起的波动率是否会带来临时回调。

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，技术的混合信号和光量，接下来的48小时可能会证明BTC在第二季度2025年的趋势是决定性的。