How Bitcoin Options Traders Are Positioning for Uptober | US Crypto News

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as Bitcoin (BTC) traders look back at the final expiry of September and look ahead to what many call Uptober, a month often marked by rallies in past years. Interest comes as options positioning and institutional flows may decide whether momentum breaks higher or stalls.

Crypto News of the Day: Traders Are Betting on Higher Prices in October

Crypto traders are buzzing about Uptober, the nickname given to October for its history of strong Bitcoin rallies.

However, before the month even begins, options markets are sending mixed signals after a record expiry, with heavy bets on higher prices, and the possibility of a sudden breakout once contracts roll off.

As BeInCrypto reported, over $16 billion worth of Bitcoin options contracts expired today on Deribit, one of the largest expiries ever.

🚨 Options Expiry Alert 🚨At 08:00 UTC tomorrow, over $22.3B in crypto options expire on Deribit; one of the biggest quarter-end expiries. 🔥$BTC: Notional: $17.06B | Put/Call: 0.76 | Max Pain: $110K$ETH: Notional: $5.20B | Put/Call: 0.80 | Max Pain: $3,800Q3’s largest… pic.twitter.com/FDT1tWomYH

— Deribit (@DeribitOfficial) September 25, 2025

Crypto options are financial contracts that allow traders to bet on Bitcoin’s future price without directly buying or selling it.

When so many contracts expire at once, it can temporarily trap Bitcoin’s price near the most popular betting levels, in this case between $115,000 and $120,000. Traders call this effect “pinning,” and it often keeps volatility muted until after expiry.

Once the contracts settle, though, that pin disappears. Depending on whether more traders were betting on upside or downside, the market can see a sharp move in the following days.

This is How Bitcoin Traders are Positioning for Uptober

Bitfinex analysts told BeInCrypto that many traders are loading up on call options especially in the $115,000 to $125,000 range.

These bets pay off if Bitcoin climbs higher, suggesting confidence that the pioneer crypto could rally deeper into Uptober.

However, there’s a caveat. Market makers and dealers, who sell these contracts, hedge their risk by trading against the market. This tug-of-war often slows down big moves until expiry clears the slate.

Nicolai Sondergaard, a research analyst at Nansen, said institutions are also preparing for upside.

“Retail traders are making balanced short-term bets, but institutions are leaning bullish with structured trades that benefit if Bitcoin rises,” Sondergaard said in a statement to BeInCrypto.

He pointed to a put-to-call ratio of 0.65, which means there are significantly more bullish bets than bearish ones.

September has lived up to its reputation as a choppy month for crypto. However, as October approaches, the stage is set for volatility to return.

Historically, #Bitcoin finds a low in September of the post-halving year, and then bounces off of it into the market cycle top that occurs in Q4. pic.twitter.com/CVbcPOUojM

— Benjamin Cowen (@intocryptoverse) September 3, 2025

Key signals to watch in the coming days include ETF flows, perpetual funding rates, and whether options positions reset at higher levels.

Chart of the Day

Bitcoin (BTC) Price Performance. Source: TradingView

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Record $21 billion Bitcoin and Ethereum options expiry tests market nerves.
• Bear market or bear trap? Analysts divided on crypto’s latest downturn.
• Glassnode flags market exhaustion as ‘Uptober’ approaches for Bitcoin.
• Aster resolves XPL perp glitch with refunds as growth momentum accelerates.
• Bitcoin’s hidden risk — DAT stock meltdown may trigger forced selling.
• Hyperliquid-based project faces $3.6 million controversy amid rug pull fears.
• Bitcoin faces double trouble: Whale slowdown and futures selloffs threaten drop to $105,000.

Crypto Equities Pre-Market Overview

Company	At the Close of September 25	Pre-Market Overview
Strategy (MSTR)	$300.70	$298.75 (-0.65%)
Coinbase (COIN)	$306.69	$305.88 (-0.26%)
Galaxy Digital Holdings (GLXY)	$32.12	$31.50 (-1.91%)
MARA Holdings (MARA)	$16.07	$16.06 (-0.062%)
Riot Platforms (RIOT)	$16.74	$17.00 (+1.55%)
Core Scientific (CORZ)	$16.84	$16.70 (-0.83%)

Crypto equities market open race: