Bitcoin is currently trading near $68,000 as around $2.5 billion worth of BTC options are set to expire today (Feb 13). The main level traders are watching is $74,000, which is the “max pain” price — the point where most options would expire worthless.
Right now, Bitcoin is trading below that level, so the big question is whether price will move upward toward $7#4K before settlement or continue trending lower.
Market activity has slowed down slightly. Trading volume and futures activity have both declined, showing that traders are reducing positions instead of opening aggressive new ones. The put/call ratio is 0.72, meaning there are more call options than puts, which slightly favors bullish expectations.
Technically, however, the chart still looks weak. Bitcoin is trading below its 50-day and 200-day moving averages, and the trend shows lower highs and lower lows. RSI is in oversold territory, which could allow for a short-term bounce, but there is no strong reversal signal yet.
Key levels to watch:
Support: $65,000–$66,000, then $60,000
Resistance: $USDC 74,000–$USDC 76,000
In short, options expiry may cause short-term volatility, but unless Bitcoin reclaims $USDC 74K with strong momentum, the broader trend remains under pressure.