Bitcoin Stays Below $74K as $9 Billion Options Expiry Gives Bears an Edge

Bitcoin remains under pressure below the $74,000 level as traders prepare for a major $9 billion monthly options expiry. Market analysts say bearish sentiment has strengthened after recent price weakness, heavy ETF outflows, and growing signs of corporate Bitcoin selling.

Bitcoin Bears Gain Advantage Ahead of $9 Billion Options Expiry

Bitcoin recently dropped to around $72,500, its lowest level in six weeks, triggering nearly $342 million in liquidations from bullish leveraged positions. Although the Btc later recovered toward $73,800, traders remain cautious as options markets suggest bears currently hold the upper hand.

The largest share of monthly Bitcoin options is concentrated on Deribit, where open interest stands at approximately $3.4 billion in call options and $2.91 billion in put options. However, Bitcoin’s drop below $78,000 earlier this month caught many bullish traders off guard.

If Bitcoin stays below $74,000 during expiry, only around $306 million worth of call options will remain profitable, compared to nearly $1.05 billion in put options positioned above that level.

ETF Outflows and Corporate Selling Add Pressure

Investor confidence has weakened further after US spot Bitcoin ETFs recorded around $1.07 billion in net outflows across two trading days. At the same time, several companies have started reducing Bitcoin exposure.

Bitcoin’s $80K Recovery Odds Remain Low

Options market pricing for late June suggests traders remain cautious. Current estimates imply only an 18% chance of Bitcoin reclaiming the $80,000 level before June 26, reflecting continued uncertainty in the short-term market outlook.