February 6 News, due to the impact of large-scale derivatives expiration, Bitcoin faced renewed pressure at the market open on Friday. Data shows that approximately 34,000 Bitcoin options with a notional value of $2.1 billion expired at 8:00 AM (UTC) on the same day, leading to increased market volatility expectations. Currently, the number of call options remains higher than put options, with a put/call ratio of about 0.60, indicating that bullish traders still hold relatively high expectations for upward movement.
However, the so-called “maximum loss point” is around $80,000, significantly above the current price. This means that most call options are deep out-of-the-money, and traders lack the motivation to push prices higher to “defend the market.” At the same time, spot buying for hedging purposes is also limited, so after expiration, price movements may continue the existing downward trend rather than experience a strong rebound.
At the same time, Ethereum options worth approximately $390 million also expired, with a put/call ratio close to 1.01, and a maximum stop-loss price around $2,450. The overall structure of the derivatives market is currently imposing phased constraints on mainstream digital assets.
In terms of price performance, Bitcoin previously dipped to $60,286, then fluctuated within the $63,000 to $65,000 range. Due to forced liquidations and capital withdrawal from high-risk assets, the current price has fallen nearly 50% from its 2025 high. If selling pressure continues, the market may test the psychological level of $60,000 again.
On the technical side, Bitcoin has broken below the 100-day moving average and repeatedly failed to rebound near $83,000, indicating that selling pressure above remains strong. The lower Bollinger Band has been breached, and RSI is approaching 20, reflecting weak short-term momentum. If the $60,000 level holds, a technical correction may occur, with the target range potentially returning to $70,000–$75,000; if it breaks below convincingly, the mid-$50,000 region will become the new focus.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The number of Americans holding Bitcoin has surpassed gold for the first time, with BTC holding steady at $63,700 becoming the key
The Bitcoin market is consolidating at high levels, and the number of holders surpassing gold owners indicates increased recognition of it as a new store of value. The US market demand is strong but faces a key technical test, requiring a steady hold above $63,700. The flow of funds will determine the future price trend.
GateNews14m ago
Bitcoin holds steady at $67,000: Crypto concept stocks collectively decline, signaling a repeat of the 2022 market crisis
Recently, Bitcoin's price has been fluctuating around $67,500, but related crypto concept stocks have experienced a significant pullback, sparking market concerns about risk. Data shows that the stock prices of many publicly traded companies holding Bitcoin have declined, and some investors are already in unrealized losses. This situation echoes signals from the 2022 crypto market crisis, with funds flowing out of crypto ETFs and investors beginning to reduce their risk exposure. Nevertheless, publicly traded companies still hold large amounts of Bitcoin, and future development depends on increased institutional participation.
GateNews17m ago
Bitcoin rebounds and breaks through $67,000: Trump signals a de-escalation of tensions, BTC market strengthens again
Bitcoin price has returned to $67,000 amid easing expectations in the Middle East situation, with a nearly 1% increase over 24 hours. Trading volume has increased by 53%, and the total market capitalization has risen to approximately $2.33 trillion. Mainstream digital assets are also rebounding in tandem. Analysts suggest that if the Middle East conflict cools down, it could trigger a capital inflow, further driving Bitcoin higher.
GateNews21m ago
BTC Markets targets 16 trillion RWA Bitcoin, applies for Australian tokenized market license
Australian cryptocurrency exchange BTC Markets is applying for a market license to offer regulated tokenized real-world asset (RWA) trading. The exchange aims to transform into a tokenized market operator and predicts that the global tokenization market could reach $16 trillion by 2030. Dobbins pointed out that Australia could generate approximately $16.8 billion in economic benefits annually through the tokenization market and plans to promote tokenization applications in private markets and infrastructure investments.
MarketWhisper38m ago
Analyst Warning: If Bitcoin enters a cyclical correction, XRP price may drop to $0.70
Cryptocurrency market fluctuations have attracted attention. Analysts point out that if Bitcoin enters a correction, XRP may face a pullback risk, with a target price of around $0.70. Bitcoin's four-year cycle characteristics indicate that correction periods could impact altcoin performance. If XRP's price falls below the $1.20 support level, the market could see further downside. Meanwhile, XRP's application in cross-border payments may reduce its dependence on Bitcoin. Investors should monitor Bitcoin's cycle changes and technical support levels.
GateNews44m ago
