4E: 4.30 billion dollar bitcoin option expires, market bullish sentiment heats up

On September 12th, according to 4E observation, after Oracle (ORCL) released good news on Thursday, the price of Bitcoin soared to $114,000, a new high in two weeks. The market expects that the $4.30 billion BTC option expiring on Friday may become an important catalyst for the market to further rise. On the option structure this week, the put contract is worth $2.35 billion and the call contract is worth $1.93 billion, but as BTC rebounds from the low in early September, the call position gradually takes advantage. Some analysts predict that if the market continues, BTC is expected to hit the $120,000 mark.
In terms of US regulation, Senate Democrats recently released the framework of the Crypto Market Structure Act, which has elicited an optimistic response from the industry and Republican leaders. The framework emphasizes token jurisdiction, exchange platform regulation, and law enforcement resources, indicating that there is room for bipartisan cooperation. Senator Lummis said that this is a positive step in the bipartisan effort of crypto legislation.
Asset management giant BlackRock plans to launch a bitcoin ETF in the UK next month, continuing its global layout. The latest report from JPMorgan Chase also pointed out that institutional adoption is still in the early stages, but the momentum is growing, with CME crypto derivatives holdings reaching a record high.
Hui Cheng-yu, Hong Kong's secretary for financial services, cautioned that currently only "approved providers" can issue regulated stablecoins, and investors buy non-licensed stablecoins at their own risk.
4E reminds investors that the maturity of derivatives and policy expectations may amplify short-term fluctuations, and investors should pay attention to macro and regulatory signals and manage their positions cautiously.