After Record-Breaking Options Expiry, Bitcoin Returns to $87K Seeking Support Amidst a "Wicked" Market

December 27th – Yesterday was the annual options expiration day, the largest in cryptocurrency history with a total notional value of roughly $28 billion. While most analysts and historical data signal significant volatility amplification post-expiration, holiday effects have kept the market locked in a sideways, range-bound pattern. Per HTX market data, Bitcoin dropped from $89,000 last night, briefly falling below $87,000 before rebounding to trade sideways above that level. It currently trades at $87,405. Analyst Murphy notes $87,000 is a key short-term accumulation point for Bitcoin and the strongest support in its current market structure. As long as this level holds with high-volume candles, market direction will become clearer.