Bitcoin is poised for potential market volatility as options worth $23.8 billion are set to expire on December 26. This expiry includes quarterly and annual contracts, as well as structured products, which could lead to significant liquidation and risk repricing. On-chain data reveals that 14,674 BTC are in put options at $85,000, while 18,116 BTC are in call options at $100,000, predominantly held by institutional investors. Analysts suggest that Bitcoin's price may remain range-bound leading up to the expiry, with increased uncertainty expected afterward. The large volume of options set to expire could influence market dynamics, prompting traders to closely monitor price movements and volatility in the coming weeks.