Bitcoin investors in India are gearing up for the $16.5 billion monthly options expiry on March 28. The recent drop in BTC price below $90,000 has caught many investors off guard, leading to the invalidation of bullish positions. This has given Bitcoin bears an opportunity to avoid a potential $3 billion loss, which could impact market dynamics in the upcoming weeks. Currently, call options open interest stands at $10.5 billion, while put options lag at $6 billion. However, the majority of these calls are set at $92,000 or higher, requiring a 6.4% gain from the current price for them to be profitable by the expiry date. Analysts attribute Bitcoin’s weak performance to global tariff wars and US government spending cuts, increasing the risk of an economic recession. Despite a high correlation with the stock market, Bitcoin bulls hope for a decoupling, supported by central banks’ monetary base expansion and increased adoption by companies like GameStop, Rumble, Metaplanet, and Semler Scientific. As the options expiry approaches, both bulls and bears aim to influence BTC’s spot price, with bullish investors eyeing levels above $92,000. With Deribit leading the options market, Bitcoin bulls have a strategic edge heading into the monthly expiry. To minimize losses, bears need to push Bitcoin below $84,000, while bulls can maximize gains by surpassing $90,000, potentially setting a bullish trend for April. The outcome of the expiry will depend on various scenarios based on current price trends, with bears looking to strengthen their position by driving BTC lower, while bulls aim for a momentum shift towards higher prices.