Bitcoin is set for a $19.8 billion options expiry on December 27, with bullish investors aiming for prices above $110,000 following a recent rally past $100,000. Current open interest shows $12 billion in call options compared to $7.8 billion in puts, positioning bulls favorably. Bears need to push prices below $95,000 to mitigate losses, while a surge above $105,000 could establish a new all-time high and sustain bullish momentum into 2026.