Bitcoin News Today: Bitcoin Holds at $84K Amid $14B Bearish Options and Optimism for Institutional Surge

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Bitcoin News Today: Bitcoin Holds at $84K Amid $14B Bearish Options and Optimism for Institutional Surge

Bitget-RWA2025/11/25 21:46

By:Bitget-RWA

- Bitcoin hovered near $88,000 on Nov. 24 amid a $14B options expiry on Dec. 26, with prices down 30% from October’s $126,000 peak. - BlackRock’s IBIT ETF saw $1.425B in five-day outflows, but Abu Dhabi’s sovereign wealth funds tripled holdings in Q3, signaling mixed institutional sentiment. - Deribit’s $80,000 put ($2.01B open interest) and a $1.74B call condor targeting $100,000–$112,000 highlighted bearish positioning and controlled rally expectations. - Weak U.S. labor data and Fed rate-cut speculation

On November 24, 2025, Bitcoin hovered close to $88,000 as traders prepared for a $14 billion options expiration scheduled for December 26. Market sentiment was divided, with some remaining cautiously optimistic while others adopted a bearish stance. The cryptocurrency had dropped over 30% from its October high above $126,000,

challenging crucial support zones amid unprecedented ETF outflows

and evolving macroeconomic conditions. BlackRock’s

iShares Bitcoin Trust

(IBIT), the largest

Bitcoin

ETF in the U.S.,

experienced a single-day withdrawal of $523 million on November 18

, extending a five-day streak of outflows that reached $1.425 billion. Nevertheless, institutional investments resumed on November 21,

as IBIT received $60.6 million in new funds, with Abu Dhabi’s sovereign wealth funds tripling their exposure

during the third quarter.

Bearish sentiment intensified in the options market,

as the $80,000 put became the most heavily traded contract on Deribit

, amassing $2.01 billion in open interest—surpassing the $1.97 billion held in the $85,000 put. This shift reflected broader changes in derivatives trading,

with 84% of December call options set above $91,000

, a level now out of reach for Bitcoin’s current value. A significant institutional transaction further underscored market expectations:

a 20,000 BTC “call condor” valued at $1.74 billion aimed for a controlled rise to $100,000–$112,000

by year’s end, executed via Paradigm on November 24.

Macroeconomic developments heightened the sense of unpredictability.

Weak U.S. employment figures, including a four-week average loss of 13,500 private-sector jobs

, along with a dip in consumer confidence to 88.7, increased expectations for a Federal Reserve rate cut in December. Despite this, Bitcoin’s correlation with stocks remained high,

with the Nasdaq 100 index continuing to shape crypto market sentiment

as both markets faced liquidity challenges. At the same time,

the S&P 500’s 5% pullback stood in stark contrast to Bitcoin’s 33% slide

from its record high, highlighting the differing trajectories of digital assets and traditional equities.

Technical indicators signaled a pivotal moment. Bitcoin’s price lingered near $84,000, a crucial support point that, if lost, could trigger a rapid drop toward $75,000. On-chain metrics revealed that mid-sized “whales” were buying at lower prices, while leveraged traders and retail participants were leaving the market.

Experts observed that consistent ETF inflows above $500 million per week

and a dovish turn from the Fed could restore upward momentum, but if $84,000 failed to hold, a deeper correction was likely.

The impending $14 billion options expiration on December 26 further complicated the outlook.

Projections for Bitcoin trading between $85,000 and $92,000 favored put options overall

, suggesting neutral to bearish results unless the price surged 15% to $100,000. Institutional strategies indicated a preference for range-bound movement,

with the call condor setup limiting gains above $118,000

As the year drew to a close, tight liquidity and diverging investor strategies shaped the market environment. While long-term holders continued to accumulate, leveraged and short-term traders suffered increasing losses,

with daily realized losses for short-term holders reaching $630 million

— the highest since 2022. The market’s direction depended on macroeconomic developments, a reversal in ETF flows, and Bitcoin’s ability to remain above $84,000.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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