Why Bitcoin May Break Through $90K — Liquidity, Options Expiry and Sell Pressure
Bitcoin faces heightened sell pressure and negative spot ETF flows, pushing price toward on‑chain fair value. On‑chain metrics (realized cap, coin days destroyed, liquid supply) show BTC moved from overvalued territory into fair value; short‑term holder pressure sits near equilibrium — a rare state indicating uncertainty about the next trend. Options expiry creates short‑term volatility: liquidation heatmaps identify key liquidity clusters at roughly $83.5k, $84k, $90k–$92.7k and $94.7k. Technical structure on the daily chart is bearish, making a dip toward the $82k–$84k pocket likely before a bounce to the $94k–$97.2k area, which the article flags as a selling opportunity given the prior swing from ~$107k to ~$80.6k. Breakout to a sustained bullish bias would require reclaiming levels above about $101.7k–$107.5k. Traders should expect sideways action with short‑term volatility around the options expiry and position accordingly.
Neutral
The article signals mixed drivers: heavy taker sell pressure and negative ETF flows point to bearish near‑term bias, while on‑chain fair value and short‑term holder equilibrium reduce conviction for a sustained crash. Options expiry introduces predictable short‑term volatility and liquidity hunting at defined zones ($83.5k–$95k). Technicals on the daily chart are bearish, so a short‑term drop to the $82k–$84k liquidity pocket is probable, followed by a bounce toward $94k–$97.2k — a likely sell zone. For a durable bullish reversal, BTC needs to clear the $101.7k–$107.5k range. This mix of factors makes the immediate outlook neutral: traders should expect sideways to slightly bearish price action with volatile spikes around expiries. Historically, large options expiries and concentrated liquidation clusters have produced short, sharp moves (e.g., prior expiry‑driven squeezes), but lasting trend changes required reclamation of higher structural levels — a pattern consistent with past BTC behavior around major expiry events and ETF flow swings. Recommended trading approach: reduce directional risk, use defined liquidity clusters for entries/exits, and size positions anticipating short‑term volatility rather than a sustained breakout.