Bitcoin’s price drop below $78K cleared the path for a rebound as options traders hedge downside risk
CryptoSlate
Bitcoin's dip below $78,000, driven by leverage unwinding and macroeconomic pressure, has forced traders to hedge while keeping potential for a rebound alive.Summary
Bitcoin recently fell below $78,000, a move triggered by excessive leverage, weakening ETF demand, and broader macroeconomic headwinds like rising Treasury yields and currency volatility. While regulatory progress, such as the CLARITY Act, usually signals growth, the market was constrained by expiring options and a lack of fresh liquidity. Despite the sharp liquidations, long-term supply indicators remain bullish, showing significant accumulation. Traders are now balancing downside hedges with potential call options, positioning the $78,000 to $80,000 range as a critical pivot point for future price action.
(Source：CryptoSlate)