Bitcoin is maintaining its position above $92,000 as the market anticipates a $4.5 billion options expiry. Data from Deribit indicates balanced call and put activity, suggesting potential market stability. However, Matrixport cautions that tight liquidity could lead to consolidation. Analysts suggest that surpassing the $92,000–$94,000 range might trigger a rally toward the $100,000 mark. Glassnode reports a decrease in implied volatility and a market skewed towards puts, while analyst Ted Pillows highlights a bear flag pattern and critical levels to monitor.