Bitcoin Slides to $65K as Major Options Expiry Approaches

Bitcoin has pulled back toward the $65,000 mark after failing to push past $66,800 earlier this week. The price action reflects a cautious mood among traders as they prepare for a significant event in the options market.

Nearly $1.2 billion in Bitcoin options are set to expire soon. This often leads to increased volatility because investors adjust their positions or hedge their portfolios ahead of the settlement. Added pressure from recent spot ETF outflows and rising oil prices has also cooled the recent rally.

Investors are now watching the $65,000 support level closely. If the price holds here after the options expiry, it could provide a base for a new move upward. However, failing to maintain this level might signal more sideways trading in the short term.