Bitcoin Climbs to $113K as Options Expiry Supports Pre-Jobs Rally
Bitcoin (BTC) advanced to $113,000 on Friday, its highest since August 28, marking the first higher high since the mid-August all-time peak of $124,000, according to CoinDesk data. Analysts see the move as a potential bullish signal.
BTC’s market dominance also rose to nearly 59%, up from 57.5%, reflecting renewed capital flows into bitcoin after recent rotations into ether.
The rally coincided with $3.28 billion in BTC options expiring on Deribit, where the max pain level was $112,000. This alignment supports the max pain theory, which suggests option sellers can influence spot prices to maximize losses for option buyers near expiry.
Market participants now await the U.S. nonfarm payrolls report at 8:30 a.m. ET for the next potential catalyst.
