Bitcoin Price Tests $91,000 Support Again with $3.4B in Options Expiry: What’s Next?

Key Notes

• Bitcoin price needs to break out past $93,200 to invalidate the descending structure since November highs.
• Weak liquidity and repeated lower highs continue to pressure BTC, while the options market shows balanced sentiment.
• Analyst Javon Marks remains optimistic, expecting a move toward the $126,230 all-time high.

Bitcoin BTC $89 454 24h volatility: 2.1% Market cap: $1.78 T Vol. 24h: $50.11 B price took a dive once again, testing the crucial support as it stares at a $3.4 billion in options expiry on Dec. 5. Although BTC has bounced back nearly 10% from the weekly lows of $84,000, bulls still need to take out the $93,200 to confirm the uptrend.
Bitcoin price Holds Below Key Resistance of $93,200
BTC continues to trade within a descending pattern on the one-month chart. Following the November highs, the asset has further extended its corrective structure, amid a major sell-off last month.

The latest Bitcoin price rebound stalled near $93,500, forming another lower high and reinforcing the short-term downtrend. Momentum remains weak, with intraday bounces losing steam quickly. This shows limited liquidity above current levels.

A decisive Bitcoin price drop below $91,000 could open a move toward the next support zone at $90,000–$90,500. On the upside, bulls must reclaim $93,200 to break the pattern of lower highs and invalidate the near-term bearish structure. Amid this price movement, BTC miners have added a total of $220 million to their reserves.

The market is also watching today’s options expiry. Roughly $3.4 billion in Bitcoin options are set to expire, with total open interest at 36,906 contracts. The maximum pain point stands at $91,000, slightly below Bitcoin’s current price of $92,279.

A Put-to-Call ratio of 0.91 indicates a nearly balanced sentiment among traders, with a mild lean toward hedging rather than a strong bearish positioning.

As volatility steadily cools and more capital enters the space, traders are shifting from “5–10x flips” toward capital preservation + sustainable yield.
On-chain products are rising to meet that demand — transparent, self-custodied, and built for real income generation.

“You can… pic.twitter.com/bUy15cZY22

— Deribit (@DeribitOfficial) December 4, 2025

What’s Next for BTC?
Despite this volatility recently, market experts remain positive about further Bitcoin price movement. Crypto analyst Javon Marks said Bitcoin’s price action continues to point toward a sustained uptrend, despite broader market noise. According to Marks, Bitcoin is holding another higher low, which signals that the bullish structure remains intact.

Erase the news, erase the multiple 'fancy' indicators and look at perhaps the simplest and greatest indicator of all time, Price Action.

Right now, price action on Bitcoin suggests an 'Uptrend', or in other words, a bullish trend, to still be in tact as another Higher Low (HL)… pic.twitter.com/nuGywZ3x9p

— JAVON⚡️MARKS (@JavonTM1) December 4, 2025

He explained that this pattern formation supports BTC price move to its all-time highs of $126,230. The current trend implies the ongoing bull cycle may extend further based purely on price action signals.

On the other hand, crypto analyst Michael van de Poppe wrote that if Bitcoin price loses the current support, this could once again push it to $85K support. “I still think that we’re done with this entire correction and are forming a bottom, before we go back into a leg upwards to the ATH,” he added.

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