# Bitcoin Surges Past $80,000 as $6 Billion Expiry Event Triggers Broad Crypto Market Momentum > Bitcoin crossed the $80,000 threshold on Friday supported by a $6.16 billion options expiry on Deribit and an 83 Fear & Greed Index score, while Ethena and Official Trump tokens rallied strongly. **Type:** article · **Category:** Crypto · **Published:** 2026-08-28 · **Source:** TrendKia **Canonical:** https://trendkia.com/en/crypto/bitcoin-80-000-ke-para-6-araba-ke-pshnsa-eksapayari-ke-bicha-kripto-bajara-men-teji-23547 · **Language:** English **Tags:** Bitcoin, Crypto Market, Options Expiry, Ethena, TRUMP Token, Ethereum, Deribit Digital asset markets witnessed significant upward momentum on Friday as Bitcoin broke past the $80,000 threshold to solidify its stance at $80,403. This price action comes ahead of a massive $6.16 billion Bitcoin options expiry set on the Deribit exchange. Investor appetite for risk assets has sharpened considerably, with market sentiment metrics entering extreme territory as CoinMarketCap's Fear and Greed Index printed a reading of 83 on Friday, confirming robust bullish control. ## Deribit Options Expiry Structure and Leverage Dynamics Options positioning data from CoinGlass indicates that Bitcoin options Open Interest (OI) on Deribit stands near $6.16 billion heading into Friday's settlement. The contract distribution shows a dramatic split, backed by $948,950 in Put options compared to $262.49 million in Call options. The vast divergence between the face value of active contracts and their overall notional totals illustrates a heavily leveraged options landscape across major trading desks. Market participants are keeping a close watch on the max pain level—the strike price at which the highest quantity of options contracts expire out-of-the-money. This critical threshold sits at $70,000, representing $2.42 billion in total notional value. The underlying volume driving this max pain strike comprises $11.31 million in expiring Puts alongside $206.33 million in expiring Calls, setting up a volatility pocket for weekend trading. ## Bitcoin Technical Landscape: EMA Alignments and Support Zones From a technical standpoint, Bitcoin retains a firm bullish structure at its current price of $80,403. The asset trades comfortably clear of its key moving averages, remaining well above both the 50-day Exponential Moving Average (EMA) at $68,732 and the 200-day EMA at $73,191. Earlier in the session, Bitcoin pushed past $77,000, marking its highest price point since mid-May following a 20%+ rally over that timeframe, alongside a 3% weekly advance. However, momentum indicators point to an overheated market condition. The Relative Strength Index (RSI) is hovering deep in overbought territory at 82, while the Moving Average Convergence Divergence (MACD) line remains positive but shows flattening histogram bars, hinting that the rate of upward momentum could taper off. Downside risk protection aligns first at the 78.6% Fibonacci retracement level of $77,489, with secondary structural support at the 200-day EMA near $73,191. Macro factors also contributed to recent market liquidations, which marked the 7th-largest liquidation event in crypto history following the US Treasury's announcement to double debt buyback operations. ## Ethena (ENA) Rallies on Foundation Buyback Program DeFi asset Ethena (ENA) advanced 9% on Friday, compounding a 15% gain recorded during the previous trading session. Over the last 24 hours, ENA has established itself among the top gainers across the altcoin space. The token continues to trade constructively above both its 50-day EMA at $0.1068 and its 200-day EMA at $0.1278. The three-day price recovery represents a bounce from the 50% Fibonacci retracement mark of $0.1356 up toward the 78.6% retracement level at $0.1982, measured from the macro downswing between $0.2633 and $0.0699. A decisive daily close above $0.1982 would clear the path for a retest of the previous swing high at $0.2633. The MACD indicator and signal line continue to incline, though an RSI reading of 81 warrants caution regarding temporary consolidation. Downside support rests at $0.1356 (50% Fib) and $0.1278 (200-day EMA). Fundamental sentiment has been further boosted by the Ethena Foundation's decision to launch buybacks targeting early investors alongside revenue-based token buybacks. ## Official Trump Token Technical Setup and Fibonacci Targets The Official Trump (TRUMP) token changed hands at $2.7630 on Friday, maintaining a constructive near-term posture above its 50-day EMA ($1.7996) and 200-day EMA ($2.7067). The token has successfully reclaimed the 50% Fibonacci retracement level of $2.4775, calculated from the downswing between the $4.4970 high and the $1.365 low. A sustained breakout above the 200-day EMA at $2.7067 could push the TRUMP token toward the 78.6% Fibonacci retracement level at $3.4843. Upward trajectory is supported by a rising MACD in positive territory, though an RSI reading near 73 indicates overbought conditions that could invite profit-taking. Immediate downside floor protection rests at the 50% retracement level of $2.4775, with a deeper retracement exposing the 23.6% level at $1.8085 near the 50-day EMA of $1.7996. ## Pi Network Ecosystem Developments and Top Crypto Majors Pi Network (PI) stabilized above $0.0900 on Friday, preserving a modest 3% gain accumulated over two days. On the developer side, the Pi Core Team announced the deployment of new SoloHost applications, including OpenClaw and the Atlassian MCP Server, aiming to increase ecosystem utility. Market analysts note that the PI token needs to breach and hold above the $0.1000 psychological barrier to confirm a trend reversal. Across the broader crypto landscape, Ethereum (ETH) expanded its gains above $2,500, up over 1.5% for the week. Conversely, Ripple (XRP) traded near $1.44, down more than 5% over the same period. While technical structures for top digital assets remain positive, overstretched indicators suggest potential for short-term price pullbacks. ## What this means for you Bitcoin breaking $80,000 alongside a $6.16 billion options expiry creates immediate volatility and trading opportunities across crypto markets. - **Across India:** Crypto investors should monitor heightened price volatility around the weekly options expiry. High market leverage increases the probability of sudden liquidations. - **For Crypto Traders:** Overbought technical readings like Bitcoin's RSI at 82 suggest waiting for potential pullbacks before opening new positions. Key support levels near $77,489 should be watched carefully. - **For DeFi Investors:** The Ethena Foundation's buyback initiative offers strong fundamental backing for ENA. Resistance near $0.1982 will dictate the next price leg. - **For Ecosystem Participants:** Pi Network's launch of OpenClaw and Atlassian MCP Server expands developer utility, though reclaiming $0.1000 remains crucial for price recovery. ## Questions & Answers ### 1. What was Bitcoin's price on Friday? Bitcoin was trading at $80,403 on Friday, holding well above its 50-day and 200-day moving averages. ### 2. What is the total value of Bitcoin options expiring on Deribit? Bitcoin options Open Interest on Deribit stands at approximately $6.16 billion for Friday's expiry. ### 3. What is the max pain price level for the Bitcoin options expiry? The max pain strike price is set at $70,000 with a total notional value of $2.42 billion. ### 4. How much did Ethena (ENA) gain over the last 24 hours? Ethena gained 9% on Friday, extending a 15% gain from Thursday to achieve double-digit 24-hour returns. ### 5. At what price did the Official Trump (TRUMP) token trade? The TRUMP token traded at $2.7630 on Friday, holding above its 50-day and 200-day EMAs. ### 6. What new applications did the Pi Core Team launch? The Pi Core Team launched new SoloHost applications including OpenClaw and the Atlassian MCP Server. ### 7. How did Ethereum and Ripple perform over the week? Ethereum traded above $2,500 with over 1.5% weekly gains, while Ripple hovered around $1.44, down over 5% for the week. --- _TrendKia — Har trend, sabse pehle.. Machine-readable view; canonical HTML at the URL above._