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
Complete Guide to Using Bitcoin Blockchain Explorer
Bitcoin is developed on the concept of transparency, permitting everyone to verify transfers directly via the public ledger. One of the convenient methods to check this transparency is via a blockchain explorer, an instrument that lets users view transfer details, network activity, and wallet
BlockChainReporter7m ago
Michael Saylor’s Strategy Buys 22,337 BTC in $1.57B Weekly Purchase
Strategy has acquired 22,337 BTC for $1.57 billion, raising its total to 761,068 Bitcoin. This marks the firm's 12th consecutive week of accumulation, funded through the sale of STRC and MSTR shares.
CryptoFrontNews8m ago
Bitcoin Everlight: Why Skip Dogecoin for 21% APY Nodes?
Dogecoin has one of the most recognizable brands in the entire crypto industry. It has celebrity endorsements, a decade of community loyalty, and a market cap that most projects would envy. What it doesn’t have is a native way to earn passive income from holding it.
That’s not an opinion — it’s a t
BlockChainReporter10m ago
Bitcoin Treasury Company Genius Group Founder Cumulatively Repurchases 5.5 Million Company Shares, Total Investment of $2.9 Million
Gate News reports that on March 17, NYSE American-listed bitcoin treasury company Genius Group disclosed that the company's founder and CEO Roger Hamilton repurchased 300,000 shares of the company at an average price of $0.37 per share in the open market last week. To date, Roger Hamilton has spent $2.9 million across seven separate transactions to repurchase a total of 5.5 million company shares.
GateNews38m ago
BTC broke through $74,000 this week, with short-term holders' profits surging to $18.4 million per hour.
Gate News reported that on March 17, according to Glassnode data, Bitcoin price made a modest breakthrough above $74,000 this week, with short-term holder realized profit (STH-Realized Profit, 12-hour simple moving average) surging to $18.4 million per hour. This is consistent with the pattern observed in February: short-term holders continuously drain momentum from each bounce at the $70,000 level, absorbing upward momentum before any real breakout can form.
GateNews42m ago
