4E: $4.3 billion Bitcoin options expiration approaches, market bullish sentiment warms up

According to 4E observation, after Oracle (ORCL) released good news on Thursday, the price of Bitcoin soared to $114,000, a two-week high. The market expects that the $4.3 billion BTC options expired on Friday may become an important catalyst for further upward trends. In terms of options structure this week, bearish contracts are worth US$2.35 billion and bullish contracts are worth US$1.93 billion, but as BTC rebounded from its lows in early September, bullish positions gradually gained the advantage. Some analysts expect that if the market continues, BTC is expected to hit the $120,000 mark. In terms of US regulation, the Senate Democrats recently issued the framework of the Crypto Market Structure Act, which triggered optimistic responses from industry and Republican leaders. The framework emphasizes token jurisdiction, trading platform supervision and law enforcement resources, showing the expansion of cross-party cooperation space. Senator Lummis said it was a positive step in the cross-party effort of crypto legislation. Asset management giant BlackRock plans to launch Bitcoin ETFs in the UK next month to continue its global layout. JPMorgan Chase’s latest report also pointed out that institutional adoption is still in its early stages, but the momentum is increasing, and CME crypto derivatives holdings hit record highs. Hong Kong Financial Affairs Secretary Xu Zhengyu reminded that at present, only "approved providers" can issue regulated stablecoins, and investors should bear their own risks in purchasing non-licensed stablecoins. 4E reminds investors: Derivative maturity and policy expectations may amplify short-term fluctuations. Investors should pay attention to macro and regulatory signals and manage positions with caution.