Sota Watanabe Says October Will Be Great: Bitcoin Bulls Stack $100,000 Bets

Bitcoin options expiring on Friday represent roughly $16.07 billion in open interest, with traders placing large bullish bets despite the price needing to rise nearly 20% in four days for those positions to become profitable.

Current Options Landscape

Deribit data shows 121,676 call contracts versus 68,333 put contracts, yielding a put‑call ratio of 0.56 – roughly two bullish contracts for every bearish one.

Key Strike Levels

• The largest call cluster is at $85,000, about 5% above the current price of $81,292.
• Significant call concentrations also exist at $90,000 and $100,000.
• A smaller number of calls reach $125,000, which would require a 54% rally.
• The biggest put cluster sits at $70,000, a level Bitcoin briefly touched last week.

Market Context

Bitcoin is trading near $81,292, roughly 10% above the "max pain" level of $73,000 – the price at which the greatest number of contracts would expire worthless.

Recent market activity includes an eight‑month high for Bitcoin after $262 million in short liquidations and $593 million flowing into spot Bitcoin funds over Thursday and Friday.

Industry Perspectives

Sota Watanabe, founder of Astar Network and head of Startale Group, expressed optimism that October will be a strong month for Bitcoin.

Vugar Usi Zade, CEO of the MEXC exchange, offered a more cautious view, noting that Bitcoin has shrugged off a Federal Reserve rate hike and the collapse of the CLARITY Act, a proposed U.S. crypto‑regulation bill. He highlighted oil market tensions as a potential catalyst for sentiment shifts and suggested upcoming ETF flows will indicate market direction.

What’s Next

The options expiry on Friday will determine whether the bullish bets pay off. A price move above $90,000 would validate the larger call positions, while a drop toward $70,000 would benefit the put side.