Deribit

Bitcoin paused near $64,000 after retracing part of Monday’s rally, while Nasdaq 100 futures weakened as Treasury yields and Brent crude moved higher. Traders are watching Wednesday’s Federal Reserve minutes and a White House crypto meeting as derivatives data shows bullish positioning concentrated in BTC.

Bitcoin and ether remain locked in a narrow range ahead of the July U.S. consumer price index release, but derivatives and on-chain signals show traders preparing for movement. Options demand, exchange outflows and guarded short exposure point to a market that is cautiously optimistic yet alert to a possible volatility spike.

Bitcoin and ether slipped into the end of July, diverging from gains across Asian equities and U.S. index futures. The broader crypto market remained on track for its strongest monthly advance in a year, but derivatives positioning showed traders leaning cautious.

Bitcoin options traders have built a major concentration of open interest around the $70,000 and $72,000 strikes on Deribit. The positioning is heavily tilted toward calls, though some bullish bets have recently been trimmed as CLARITY Act expectations cooled.

Bitcoin is holding in a tight range between $64,000 and $66,800 after rebounding more than 13% from its July 1 low. With traditional markets offering limited direction, traders are watching derivatives positioning, volatility signals, and select altcoin moves for the next catalyst.

Kraken has introduced European-style, cash-settled bitcoin and ether options on Kraken Pro for eligible international clients. The exchange is betting that simpler product design, USD settlement and a unified trading account can help expand crypto options beyond institutional-heavy venues.

Large bitcoin options traders have built a $2.5 billion notional call spread position on Deribit targeting a move toward $72,000 by July 31. The positioning lands just as markets prepare for the Federal Reserve’s July 29 interest rate decision, where futures currently favor no change in rates.

Bitcoin climbed to $64,400 on Friday, revisiting the level that capped gains earlier in the week and putting the June 15 high of $67,250 back in focus. Ether outpaced bitcoin, while altcoin strength and calmer derivatives signals pointed to improving risk appetite across crypto markets.

Bitcoin’s longer-term MACD histogram has crossed above zero, a technical shift that suggests the latest rebound may still have room to extend. Traders are now watching resistance around $65,434, $67,292 and $71,147, while a large $80,000 options strike could influence volatility if prices keep climbing.

Bitcoin and ether retreated more than 2% as renewed tensions between the U.S. and Iran pushed traders away from risk assets. Altcoins suffered deeper losses, with most crypto liquidations tied to smaller tokens as volatility rose across derivatives markets.

Bitcoin briefly fell to its lowest level since September 2024 before recovering, but derivatives positioning still points to caution. Altcoins such as Jupiter and Stellar posted gains even as broader sentiment stayed defensive.

Bitcoin has fallen from around $67,000 to below $60,000 ahead of a roughly $10 billion options expiry, pressuring the popular max pain narrative. Traders are now watching whether the event fuels volatility instead of the usual price pinning.

Bitcoin is still fighting to stay above $60,000 as derivatives signals lean increasingly bearish. Rising short positioning, negative funding, and wider put demand suggest traders are bracing for more downside.

Bitcoin options traders are aggressively buying short-dated put contracts, signaling growing concern that the selloff could extend further. The bearish positioning points to downside targets near $52,000 as macro pressure builds.