Bitcoin faces $10.5B options expiry on Feb. 27 with puts in control unless price rallies 9%

Bitcoin traders are preparing for Friday's $10.5 billion monthly options expiry, with current data showing put options holding the upper hand while BTC trades around $68,800. Deribit leads the market with the bulk of open interest, and scenarios modeled around price ranges between $65,000 and $74,000 all currently favor sellers unless Bitcoin can stage a 9% move back above $75,000. A strong 90% correlation with the Nasdaq 100 suggests that tech sector sentiment and major earnings, including Nvidia, may heavily influence the expiry outcome.