Bitcoin holds $80k as $6.16B options expire and ENA rallies
Bitcoin (BTC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reported that Bitcoin advanced above $80,000 on Friday amid a $6.16 billion options expiry. The broader market showed bullish characteristics, with the Fear and Greed Index sitting at 83. Deribit data indicated that the expiry was driven by $948,950 in Puts and $262.49 million in Calls.
Max pain was identified at the $70,000 strike price, which held $2.42 billion in notional value. Bitcoin traded at $80,403, maintaining a bias above its 50-day and 200-day Exponential Moving Averages. Momentum indicators showed the RSI deep in overbought territory at 82, while the MACD lost altitude.
Immediate resistance aligns with the March 13 swing high near $82,850. Ethena extended gains after the Foundation announced a buyback of early investors and revenue buybacks. Official Trump also emerged as a top performer, testing the bullish breakout of its 200-day EMA at $2.725.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 28 August 2026. Not the outlet's figures.
Whalio spot data shows Bitcoin trading at $80,249.58 with a 1-hour buy ratio of 48.0% and a 4-hour buy ratio of 50.8%. These short-term readings sit below the 24-hour buy ratio of 45.2%, indicating that buying pressure is currently fading relative to the daily average. The 1-hour volume delta is negative at -$1,011,738, while the 4-hour delta is positive at +$4,782,159. This divergence suggests that while recent hourly flow has been net selling, the broader four-hour trend remains net buying. The 24-hour volume delta is -$123,102,218, reflecting a significant net outflow of capital over the full day. A CVD close of -$73,559,041 confirms that sellers dominated the spot market during the 24-hour period.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What BTC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 51.1%, compared to today's 24-hour ratio of 45.2%, marking a 5.8-point drop. Trading volume was 0.65x the weekly average, indicating that activity was notably lighter than usual. Net buying occurred on 5 of the 7 days in the prior week, with a total volume delta of +$171,556,665. Today's negative delta and lower volume contrast with the week's overall positive accumulation. This represents an unusual day of distribution following a week of net buying.