🚀 Bitcoin Holds Strong at $83K—What’s Next? 💰

$BTC price is hovering near $83,000, and despite market volatility, derivatives data suggests whales aren’t expecting a major drop. đŸ“‰đŸš«

đŸ”„ Key Takeaways:

✅ Bitcoin fell 16% since hitting $99,500 on Feb 21, but futures remain stable with a 6.5% annualized premium.

✅ The S&P 500 is down 6.5% from its all-time high—investors are moving into cash & bonds instead of risky assets.

✅ Spot Bitcoin ETFs saw $74M in outflows on March 3, adding to short-term uncertainty.

✅ Options market remains balanced, with the put-call skew at 4%—investors aren’t panicking.

✅ Utah could allocate up to 5% of state reserves to Bitcoin if its new bill passes! đŸ›ïž

🔼 What’s Next?

📉 Bitcoin is tied to stock market sentiment. If the S&P 500 recovers, BTC could break back above $90K.

📊 For now, whales are holding firm, and derivatives data suggests a big crash is unlikely.

👀 Watching for the next move—where do you think Bitcoin is headed? 🚀📈

#BitcoinPrice #CryptoVolatility #BitcoinDerivatives