Bitcoin faces $93,000 supply overhang as options expiries keep price trapped between $81,000 and $93,000

On Dec. 17, Bitcoin jumped $3,000 in an hour to reclaim $90,000, wiping out $120 million in shorts, before falling to $86,000 as $200 million in longs were liquidated, swinging market cap by $140 billion in two hours. Glassnode's Dec. 17 analysis attributes the turmoil to thin liquidity, overhead supply between $93,000 and $120,000, and clustered December options expiries that are keeping price confined in an $81,000–$93,000 band rather than to excessive futures leverage.