Bitcoin is trading within a narrow $75,000-$80,000 range as the market approaches a major Friday derivatives settlement on Deribit, according to CryptoSlate. Reported call exposure is concentrated at both $75,000 and $80,000, placing those levels at the center of near-term market positioning. Dealer hedging linked to the expiring contracts could help keep Bitcoin contained between the two prices, while also increasing the force of a move if the market breaks beyond the range. The settlement therefore creates the potential for heightened price sensitivity around the two key levels. CryptoSlate described Bitcoin as trapped between the strikes ahead of the expiry, with positioning at the lower and upper boundaries likely to influence trading activity into the event.
