Bitcoin · Bitcoin ETF · Cointelegraph
Most neutral-to-bullish strategies will likely expire worthless, since 78% of call (buy) options are priced at $72,000 or above
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Bitcoin’s price momentum shows little tie to stocks due to heavy ETF outflows, a bearish options expiry skew and Strategy’s mounting unrealized losses.
Key facts
- Investors worried about inflated AI valuations after Elon Musk’s SpaceX (SPCX) shares fell 32% from their peak can find comfort in 5-year US Treasuries yielding 4.15%
- Yet as Crude Brent oil prices pulled back to $75 from $95 one month earlier, investors grew more confident that inflation had peaked
- The $58,000 retest triggered over $1 billion in liquidations across bullish BTC leveraged positions
- Sentiment worsened further as Strategy (MSTR) now sits on a huge unrealized loss after buying $64.1 billion worth of Bitcoin since 2020
Summary
Bitcoin’s trek into new 2026 lows continued as spot BTC ETF outflows, a bearish monthly options expiry and Strategy’s unrealized losses widened its gap with AI-connected stock returns. Surging spot Bitcoin ETF outflows and a put-heavy options expiry point to fading institutional demand. Risk-reward shifts toward tech stocks, leaving crypto traders to seek catalysts beyond macroeconomic tailwinds. Bitcoin (BTC) traded down 9% in three days, hitting its lowest level since September 2024. Bitcoin/USD (orange) vs. gold/USD & Nasdaq 100 futures (green).