Bitcoin stabilized above $89,500 on Saturday, recovering from recent lows as markets digested the expiration of over $2.3 billion in Bitcoin and Ethereum options on Tuesday.
According to CoinMarketCap data, Bitcoin was trading at $89,509 at the time of writing.
Ethereum also rebounded modestly, trading near $2,960, as the total crypto market cap ticked higher amid improved sentiment and declining volatility. Traders cited relief that the expiry passed without triggering a major breakdown in prices.
The expiry event was a key volatility node. Now that it’s cleared, the market has room to reassess direction.
Tuesday’s massive options expiry — among the largest year-to-date — had placed pressure on both Bitcoin and Ethereum near key strike levels. With that flow out of the way, markets have seen a decline in intraday volatility and more technical stability.
Bitcoin successfully defended critical support around $88,000 despite elevated downside risks highlighted earlier in the week.
Global equities continued to show resilience, with U.S. and European indices extending gains following the rollback of a proposed U.S. tariff package. The move, seen as easing global trade tensions, also helped buoy sentiment across risk-sensitive assets including cryptocurrencies.
Looking forward, investors are closely watching central bank commentary and macroeconomic data for clues on interest rate direction. While the Federal Reserve has signaled a pause in rate hikes, markets remain alert to inflation surprises and liquidity signals that could impact risk appetite.
With the expiry event now in the rearview mirror, traders are recalibrating technical setups for Bitcoin and Ethereum. BTC remains trapped between $88,000 and $90,000, while ETH faces resistance near $3,000. Momentum indicators suggest neutral-to-slightly-bullish setups — but macro shocks could disrupt that path.
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