Bitcoin Options Expiry Insight (Feb. 13)
Bitcoin ($BTC ) trades near $68,280, down 1.1% in 24h, with $2.5B in BTC options expiring today. The max pain sits at $74,000, the level where the most options would expire worthless.
Market Conditions:
Spot trading volume: $47B (−11% vs. yesterday)
BTC futures volume: $63B (−18%)
Open interest: $44B (−1.73%)
Put/Call ratio: 0.72 (more calls than puts)
Expiry can trigger short-term volatility, as market makers hedge positions. With BTC ~$6K below max pain, price may be pulled higher, but strong bearish momentum could dominate.
Technical Outlook:
Daily trend: bearish, with lower highs and lower lows
Trading below 50-day ($75K) and 200-day ($92.5K) moving averages
RSI: 29 (oversold, but no bullish divergence yet)
Support: $65K–$66K, next at $60K
Resistance / reclaim zone: $74K–$76K, break above could target $80K
Takeaway: Options expiry may increase volatility today, but Bitcoin remains technically weak below $74K. A sustained trend reversal requires structure, not just expiry-driven moves.
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