Bitcoin's biggest options expiry is coming this year. Mark your calendar for January 30—that's when roughly $8.27 billion worth of Bitcoin options contracts hit their settlement date. It's a massive moment for the market.

Here's where it gets interesting: the options data tells an intriguing story. Call options are heavily clustered around the $100K level, suggesting plenty of bullish positioning. On the flip side, put options form a dense band between $65K and $80K, indicating traders are hedging downside risk. The max pain sits near $90K—that theoretical sweet spot where the most options expire worthless.

This kind of concentration often influences price action. When this much capital is tied up in options at specific price levels, market participants tend to pay attention. Whether Bitcoin respects these levels or breaks through them entirely, the January 30 expiry will likely spark significant moves.