[$13 Billion Bitcoin Options Set to Expire, Bears in Control, Bulls May Remain Under Pressure in June] BlockBeats reports that on June 21, approximately $13 billion worth of Bitcoin options are set to expire on June 26, with the current open interest structure clearly favoring the bears. The market is concerned that the downward trend this month may continue. Bitcoin has fallen about 14% so far in June, with most bullish options concentrated at strike prices of $68,000 and above, leaving many bulls trapped. Options market data shows that the Deribit platform holds $10.4 billion in open interest, accounting for 79% of the market share. Among this, bullish options account for $6 billion in open interest, but 78% of these are concentrated at strike prices above $72,000. With less than a week until expiration, the effective open interest may shrink significantly. Of the $4.5 billion in bearish options, only 28% are betting on Bitcoin falling below $57,000, making the overall bearish structure more robust. Based on the current price trend, all four scenarios at the June 26 expiration favor the bears, with a net advantage ranging between $1 billion and $3.4 billion. Even if Bitcoin rebounds 12% from its current level of approximately $63,000, the expiration outcome is unlikely to flip in favor of the bulls. The bulls' earlier optimism stemmed from Strategy Company's aggressive purchase of approximately 62,841 Bitcoins between April and May, pushing the price above $73,000. However, subsequent net outflows from U.S. Bitcoin spot ETFs and stalled progress on the digital asset tax legislation have caused market sentiment to deteriorate sharply. Analysts point out that while the outcome of this options expiration does not determine the trajectory for July, it will likely suppress bullish confidence. [Original Link]