Bitcoin Tops $113K as Options Expiry Fuels Pre-Jobs Momentum
Bitcoin (BTC) surged to $113,000 on Friday, reaching its highest level since August 28 and posting its first higher high since the mid-August all-time peak of $124,000, according to CoinDesk data. BTC’s market dominance also climbed to nearly 59%, signaling renewed inflows amid a broader crypto rotation.
The rally coincided with $3.28 billion in BTC options expiring on Deribit, with the max pain point at $112,000. This alignment supports the max pain theory, which suggests option sellers can influence spot prices to maximize losses for buyers as expiry approaches.
Traders now await Friday’s U.S. nonfarm payrolls report at 8:30 a.m. ET for the next major market catalyst.
