Bitcoin's price remains stable around $90,000, driven by significant options trading activity on Deribit. The exchange notes that a large number of open options contracts are concentrated near this strike price, particularly ahead of the major expiration date on January 30th. This indicates that traders are focusing on options for risk management rather than highly leveraged futures. Deribit's analysis reveals that the high volume of options trading, especially short-term put options, suggests that while capital remains in the market, risk control is more stringent. The current price action is influenced more by position structures than external news. Bitcoin has been trading between $85,000 and $95,000 since mid-November, with a notable $8.4 billion in monthly Bitcoin options set to expire this Friday. The put/call ratio stands at 0.54, with the most significant resistance at $90,000 and the highest open interest around the $100,000 strike price.