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#BTCOptionsExpiryTest BTC's $80K test isn't just bulls versus bears. It's spot demand versus derivatives positioning. The rally included a huge short squeeze, but futures leverage has since cooled while ETFs added $1.92B. Now $6.44B of options expire with positioning clustered around $75K-$80K. If BTC holds after expiry removes that distortion, the breakout looks healthier. If volatility returns once positions reset, we'll learn how much of $80K was genuine demand and how much was mechanics.