Bitcoin Faces Resistance as Options Expiry Approaches
- Bitcoin reached $81,364 on Sept. 3 after topping $80,000 on Aug. 27.
- Rising U.S. Treasury yields and slow ETF turnover are keeping Bitcoin below $83,000-$86,000.
- Sept. 25’s options expiry involves $14 billion in open interest, potentially impacting Bitcoin’s price direction.
- Short-liquidation liquidity is concentrated between $83,000 and $86,000, while long-liquidation exposure is around $60,000 to $63,000.
- A dense accumulation zone between $62,000 and $65,000 provides strong support for Bitcoin.
The Bitcoin market is currently boxed between key resistance and support levels due to macroeconomic pressures and upcoming options expiries. The recent rise in U.S. Treasury yields has added pressure on speculative assets like Bitcoin by increasing discount rates.
With the Sept. options expiry looming large with a significant open interest of $14 billion, the market remains vulnerable to fluctuations within the established range of $83,000 to $86,000 unless substantial buying occurs at these levels to absorb supply pressures.Source
