🔥 13 billion USD options are about to expire! Can Bitcoin hold at $60k🤔?

Brothers, happy weekend! This morning, BTC rose to $63,386, a slight increase of 0.19%. But don’t celebrate too early—13 billion USD worth of Bitcoin options expire on June 26, with put options exceeding call options by 1 billion to 3.4 billion USD. The bears hold the ammunition; can the bulls withstand it?

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First, look at the big picture: will Bitcoin break $60k or not?

$BTC ‌ From the all-time high, it has retraced about 50%, with a fear index of 23, indicating extreme fear.

The 50-day moving average is at $74k, the 200-day moving average at $77k, but the price is fluctuating between $62,000 and $64k.

From a technical perspective, $60k is a strong support at the 200-week moving average, but CryptoQuant CEO said, “Sell orders can’t stop the decline.” There is heavy accumulation around $65k, so in the short term, it’s likely to oscillate between $60k and $65k.

However, Mexican billionaire Salinas just called out: Bitcoin will eventually reach $1 million, and he has 70% of his assets in BTC. He said, “Fiat currency is a fraud”—this is harsh, but the long-term hodling logic makes sense🌚.

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$ETH ‌: Struggling at $1,700, foundation executives have left

ETH is now at $1,705, down from over $2,000. Ethereum’s co-executive director Wang Xiaowei just resigned. Open interest in futures contracts decreased by 31% to $10.3 billion. In the short term, $1,700 is critical; if it can’t hold, it might drop to $1,650.

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$RE ‌: New coins double in a day, but stay calm

RE just listed on the top five exchanges, with an IEO price of $0.05, soaring to $0.63. 24-hour trading volume is $778 million. New coins are volatile; don’t FOMO.

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Summary

Before the options expire on June 26, the market is likely to continue oscillating. $60,000 is both a psychological and technical support level, but don’t bet on it definitely holding or breaking. During extreme fear, dollar-cost averaging is more reliable than bottom-fishing. When the market is uncertain, watch more and act less—don’t let emotions sway you.

If you find this helpful, follow us. Have a great weekend, brothers!💰

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