Crypto Overview: Bitcoin tops $80,000 amid $6 billion options expiry – Ethena, Official Trump rally

• Bitcoin extends gains above $80,000 on Friday, gaining traction ahead of its $6.16 billion options expiry.
• Fear and Greed Index above 80 on Friday suggests strong risk-on sentiment among investors.
• Ethena and Official Trump emerge as top performers with double-digit gains over the last 24 hours.

The broader cryptocurrency market maintains a bullish character, with Bitcoin (BTC) advancing above $80,000 on Friday amid a $6.16 billion options expiry. Ethena (ENA) extends double-digit gains over the last 24 hours as Ethena Foundation announces buyback of early investors and revenue buyback. Official Trump also emerges as a top performer with double-digit gains, testing the bullish breakout of its 200-day EMA at $2.725.

CoinMarketCap’s Fear and Greed Index at 83 on Friday indicates a firm bullish sentiment in the crypto market. 

Bitcoin’s rally faces over $6 billion options expiry

CoinGlass data shows that Bitcoin options Open Interest (OI) on Deribit stands at around $6.16 billion for Friday's expiry, driven by $948,950 in Puts and $262.49 million in Calls. The large difference between the actual values of Call and Put contracts and their notional values reflects the highly leveraged options market.