Bitcoin Options Expiry Near $3 Billion May Influence Short-Term Price Swings Around $106,000 Level

Key Points

1. Bitcoin's July 4 options expiry involves $3 billion in contracts, with the max pain price at $106,000, a key level for potential price movements.

2. The put-to-call ratio of 1.05 and a 21% decline in trading volume to $28.9 billion indicate a cautious market environment.

3. Bitcoin remains above its 10-day and 20-day moving averages, supporting a short-term upward trend, though technical indicators like the MACD show signs of weakening.

4. A drop below $107,500 could push Bitcoin toward $106,000, while staying above $108,000 with rising volume may signal bullish momentum toward all-time highs.

5. COINOTAG analysts highlight the potential for sharp price moves post-expiry, depending on which side (bullish or bearish) gains dominance.