14-3-2025 – Amidst mounting pressure on digital assets, Bitcoin finds itself navigating through choppy waters as it grapples with stubborn resistance levels near $82,000. The cryptocurrency landscape faces a crucial juncture, with a substantial options expiry looming on Friday, 14th March, involving approximately 35,000 Bitcoin contracts.
Technical indicators paint a rather sobering picture for the premier digital currency. A particularly noteworthy development emerged in recent trading sessions, as the 50-day and 100-day exponential moving averages (EMAs) formed an ominous death cross around the $90,000 threshold, traditionally viewed as a harbinger of bearish momentum.
Despite a modest rally during Asian trading hours, which saw a 2% uptick, the enthusiasm proved short-lived once European markets opened. The digital asset continues to trade below its March commencement price, marking a disappointing performance for the month thus far.
The options market reveals a complex tapestry of trader sentiment. Whilst the put/call ratio stands at 0.73, suggesting a slight bullish bias, bearish positions totalling $850 million are betting on a significant downturn towards $70,000. This polarised positioning adds another layer of intrigue to the market dynamics.
Adding to the market’s challenges, Bitcoin has encountered repeated resistance at $84,400, failing to breach this level on three separate occasions. This persistent ceiling, coupled with bearish technical signals including the RSI indicator, suggests continued downward pressure.
The recent release of lower-than-anticipated inflation figures has sparked fresh discussions about potential early Federal Reserve rate adjustments. However, this macroeconomic catalyst has yet to provide meaningful support for Bitcoin prices.
The forthcoming options expiry could prove pivotal, with substantial open interest clustered around the $120,000 and $100,000 strike prices. Market participants remain vigilant for any decisive move that might signal a departure from the current trading range, though the prevailing bearish trend maintains its grip on market sentiment.
