BlackRock’s BTC ETF Bets Are Back — Is Bitcoin About to Explode Past $110K?

Bitcoin dropped to $108,000 during European hours, down 1.4% on the day and below the ascending channel support. Despite $57.7 billion in 24 hour volume, failing to hold above $112,000 has triggered short term profit taking.

The pullback coincides with macro uncertainty and a 2 hour bearish engulfing candle which is a sign of potential trend reversal.

But beneath the surface institutional interest remains strong. BlackRock’s iShares Bitcoin Trust (IBIT) now has $20 billion in notional open interest – Wall Street is getting in. Total options open interest is $65 billion according to Amberdata with traders betting BTC will hit $116,000 or $120,000 in the next few weeks.

Bitcoin Options Open Interest Spikes to Record High as Traders Target $116K
► https://t.co/3qeyQt1ZOG https://t.co/3qeyQt1ZOG

Points:

• BTC price: $108,000
• Resistance: $112,000
• BlackRock ETF open interest: $20B
• Options market OI: $65B

Options are bullish medium term. Deribit’s order book shows $23 billion in call options vs $13.9 billion in puts – more traders are betting on higher prices. The skew is heavily in favor of upside bets especially for June expiry where large positions are building at strike prices between $110,000 and $130,000.

Block Scholes notes an increase in out of the money calls and the overall put/call ratio is 0.61 – more bullish. There’s a lot of activity at strikes above current levels with $420 million and $620 million notional value on the $200K and $300K calls respectively.

• Call/Put volume: $23B / $13.9B
• Top strikes: $116K–$130K near term
• Long shots: $200K+ calls worth over $1B

25,000 BTC options worth $2.81 billion are expiring today which will add to short term volatility. The put/call ratio for today is 1.22 – near term bearish.

The “max pain” level – the price where most options expire worthless – is at $104,000 so a further drop is possible if momentum doesn’t bounce back soon.

25,000 BTC options are set to expire with a Put/Call Ratio of 1.22, a max pain point at $104,000, and a notional value of $2.81 billion. Meanwhile, 202,000 ETH options will also expire with a Put/Call Ratio of 1.26, a max pain point at $2,450, and a notional value of $570…

But most of the interest has shifted to June 27 expiries which now account for over 30% of total open interest. Analysts like Peter Yan say this is a sign of deeper institutional positioning and expectations of more volatility ahead.

Technically, Bitcoin price prediction seems bullish as BTC needs to reclaim the $108,400–$108,650 zone to get back in a buying zone. If not, next supports are at $107,077 and $105,905. The MACD is showing a bearish crossover and expanding red histogram bars – be cautious.

• Today’s expiry: 25K contracts, $2.81B
• Max pain: $104,000
• June expiry OI: >30% of total
• Watch zones: $108,650 reclaim or $107K break

BlackRock’s $20B Bitcoin ETF exposure and record high options interest means BTC’s long term trend is up. But with technical pressure building and key options expiries in play, short term caution may prevail before the next breakout.

As the BTC/USD pair hovers near $108K, attention is rapidly turning to high-upside altcoins — and BTC Bull Token ($BTCBULL) is stealing the spotlight. With $6.17 million raised out of its $7.14 million cap, momentum is accelerating as the next presale price jump closes in fast.

What sets BTCBULL apart is its unique rewards model — token holders receive Bitcoin airdrops directly tied to BTC’s price rallies. The higher Bitcoin climbs, the more BTC gets distributed — with presale buyers receiving priority rewards over post-launch DEX investors.

Key Stats:

• USDT Raised: $6,221,583.95 / $7,136,435
• Token Price: $0.002525
• Staking Pool: 1.47B BTCBULL
• Yield: ~71% APY

Built-in scarcity adds even more firepower: every time Bitcoin rises by $50K, BTC Bull triggers a token burn, reducing supply and increasing upside potential for long-term holders.

Meanwhile, staking is turning heads. BTCBULL offers a whopping ~71% APY on its Ethereum-based staking pool (currently holding 1.47B BTCBULL), with no lockups or withdrawal fees. That means passive yield — with full liquidity.

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