Bitcoin Faces Key Support at $118K in Options Battle

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Bitcoin is holding above the short-term holder cost basis, signaling strong momentum but also raising the risk of a near-term pullback.

Open interest: 38,870 BTC contracts expiring today.

Max pain price: $118K — a crucial level for bulls to defend.

According to Glassnode, the recent pullback is already testing leveraged positions. If BTC breaks below $118K, volatility could spike. If support holds, traders may see renewed upside.

[EmTeam]

$118K is a major psychological level. Holding it could set the tone for the rest of the month’s momentum.

[alex10]

Options data suggests strong defense at $118K — if buyers keep control, we might see a push toward $125K next.