Bitcoin has been steadily holding around $87,000 toward the end of the year, creating a sense of "freeze" that raises many questions among market participants. Behind this apparent calm are not news or trader emotions, but the mechanics of the options market, hedging, and algorithmic strategies that keep the price within a tight corridor. This article explains exactly how options and gamma pressure create these boundaries and why December 26, 2025, could change the situation.
Why Bitcoin Is Stuck Around $87,000
The main reason is the large volume of options creating pressure on the price, effectively holding it within a strict range. When there are many options in the market, dealers and market makers must hedge their positions, and their actions translate volatility into controlled but rigid movement.
At the same time, participant emotions take a back seat: price movement is driven not by human reactions but by hedging algorithms and their related mechanics. This combination results in a feeling of stability, which is actually the outcome of systematic trading rules rather than a balance of supply and demand.
Key Support and Resistance Levels
The market identifies two conditional boundaries—the "floor" and the "ceiling"—which form a narrow price corridor. The "floor" is located roughly around $85,000, where a large volume of put options is concentrated; as the price approaches this zone, dealers start buying Bitcoin to protect their short deltas, causing the price to bounce upward.
On the upside, there is a "ceiling" near $90,000—here call options are concentrated, and when the price rises, dealers often sell Bitcoin to neutralize risk. This top-side pressure limits further upward movement and creates the appearance of an invisible wall. More details on why Bitcoin cannot hold above $90,000 can be found in a separate article.
The Role of Options and Gamma Pressure
Options create what is called gamma pressure: when options are at certain strikes, dealers must dynamically hedge their positions by buying or selling spot Bitcoin. This trading mechanic dampens volatility and keeps the price within established levels.
As a result, hedging algorithms turn external moves into neat pullbacks and rebounds rather than sustained trends. While most of the gamma pressure remains, the market stays "compressed" and reacts more to market maker actions than to fundamental events.
December 26, 2025: What Will Change
An important milestone is the expiration of a large volume of options worth approximately $300 million, scheduled for December 26, 2025. On the same day, about 58.2% of the existing gamma structure will disappear, meaning some of the market’s artificial constraints will cease to function.
Until expiration, market participants closely watch the area around $88,925: a breakout and close above this level could alter dealer behavior. If this happens, hedging pressure will decrease, and price movement may become freer.
Bitcoin Price Movement Outlook
In the near term, the price is expected to stay within the $85,000 to $90,000 corridor due to the current option setup. However, after expiration, some constraints may vanish, giving the market room for sharper moves if dealers adjust their hedging strategies.
Possible scenarios include acceleration after breaking the key zone near $88,925 and relief of the upper pressure, theoretically opening the way to more ambitious levels. For readers interested in broader context and various forecasts, a review of analyst opinions is useful.
Why This Matters
If you mine from 1 to 1000 devices and live in Russia, the current situation primarily affects volatility and the ability to convert mined Bitcoin into fiat. In a "compressed" market, sharp price jumps are rare, but the risk of sudden moves remains high during option expirations like December 26, 2025.
For you, this means short-term sales plans and risk management should align with expected option expiration dates and key levels to avoid being caught in strong liquidity shifts.
What to Do?
Main recommendations for miners in Russia are simple and practical: plan sales considering option events, monitor remaining cryptocurrency volumes, and prepare reserves in case of sharp price moves. Below are specific steps to help reduce risks.
- Create a sales plan: spread out the sale of mined Bitcoin over multiple dates to avoid concentrating sales at option expiration moments.
- Maintain liquidity reserves: keep some fiat or stable assets to cover expenses during periods of sharp fluctuations.
- Track key levels ($85,000, $88,925, $90,000) and plan actions in advance for breakouts or pullbacks.
- If using third-party services for automatic sales, check their settings for triggers during high volatility.