Will Bitcoin defend $60K as $6.6 billion options expire?

back to the range-lows at $60K. This was the fifth time BTC retested the level, and it has retreated even lower to $56K and $58K on some occasions.

However, over $10 billion of crypto options are set to expire on the 28th of June, about $6.6 billion of whichThe max pain for BTC options was at $57K, which typically is the level with the least financial risk to market markers before the options expiry.BTC prices always tend to move to this level, but other factors were at play, too. So, based on the options market, BTC could slide below $60K.

However, the above optimistic outlook could also be dented by BTC short-term investors holding BTC at a loss and could panic sell if BTC dropped further.‘If the price does not move above the sth price quickly, it will likely turn into a resistance level for the price going forward.’On the other hand, AMBCrypto analysis of the liquidation heatmap showed key liquidity clusters on either side of the price action. But liquidity was a little skewed towards $60.2K and $60.4K.

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