Bitcoin is becoming more active in testing higher prices as its options expiration approaches. Looking at recent market conditions, BTC is trading around $78,000, but market sentiment is clearly leaning bullish. Discussions among bullish traders are increasing on Reddit and Telegram, and Santiment’s data also confirms that the social sentiment index is rising.

Perhaps because the Friday Bitcoin options expiration is getting closer, we’re also seeing moves that reflect awareness of important resistance levels from a technical perspective. While there are profit-taking selloffs from smaller investors, overall expectations for an upward move remain dominant. If Bitcoin can hold this level, there may be a possibility of aiming for further upside after the options expiration. From a market psychology standpoint, there are also signs that FOMO is at work, so it’s worth keeping in mind that sharp rallies and pullbacks could alternate.