Crypto Today: Bitcoin Dips Below $88K, Altcoins Mixed & Traders Brace for Massive Options Expiry
1. Bitcoin Pulls Back Below $88,000
Bitcoin is trading near $87,400–$88,000, down modestly as investors take defensive positions ahead of the massive $28B Bitcoin & Ethereum options expiry later this week — the largest in Deribit history. Lower liquidity and fear in the market are weighing on price action. ABP Live
2. Mixed Altcoin Performance Today
Market breadth is uneven: Curve DAO Token (CRV) saw a strong 5–8% gain, while major coins like Ethereum, Solana, XRP, Dogecoin, and Litecoin posted slight dips. Bitcoin dominance edged slightly higher, but many smaller assets showed idiosyncratic moves. CoinCodex
3. Market Cap Near $3 Trillion Amid Defensive Sentiment
The total crypto market capitalization is hovering around $2.96–$2.99 trillion. Traders remain defensive as the Fear & Greed Index stays in the “Fear” zone, and open interest rebuilds ahead of key derivatives expiries. CoinCodex
4. Traders Watch Volatility Ahead of Options Expiry
Data shows rising leveraged positions:
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~$222M in liquidations in the past 24 hours, and
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$129B in open interest across BTC & ETH contracts.
This suggests volatility could spike once the options expiry settles later this week. CoinCodex
Takeaway
Today’s price moves aren’t dramatic, but they’re important. Bitcoin’s dip under $88K and uneven altcoin action reflect caution before a huge derivatives event. When options expiries loom large, markets tend to chop — with sideways price action masking elevated stress below the surface. Traders should watch support at $85K–$86K and resistance near $90K, because the real move may come after the expiry settles.
