Bitcoin Dips to $79,000 After SMA200 and Options Expiry Collide

Key Takeaways

• BTC at $79,234, down 2.29% on the day, session high $81,664
• SMA200 at $81,957: session high stopped $293 below this level
• Deribit BTC max pain: $80,000. Put/Call ratio: 0.55. Notional: $2.01B
• RSI at 52.62, signal at 62.47: spread of 9.85 points, momentum broken
• Options expired at 08:00 UTC today: $2.63B total across BTC and ETH

Where the rally stopped and why

Bitcoin opened at $81,090 and reached a session high of $81,664 before reversing to $79,000 at the time of writing, a loss of 2.29% on the day. The Clarity Act Senate Banking Committee vote provided the catalyst for the early push, and the SMA200 provided the ceiling.

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