Bitcoin Dips Below $64K as Options Expiry and USDT Outflow Unfold

The Bitcoin price slipped below $64,000 as a significant options expiry event unfolded. On July 28, around 149,000 options worth $9.6 billion expired with maximum pain set at the key level of $64,000. This event favored call-heavy positioning.

Meanwhile, Binance saw a massive outflow of $500 million in USDT, which coincided with Bitcoin's climb back to $65,000. The transfer from Binance's hot wallet to Tether's treasury was recorded by on-chain tracker Whale Alert.

Hyperscale Data held 1,106.0467 BTC worth approximately $71.7 million, exceeding its market capitalization of roughly $56.4 million by about $15 million. This apparent discount might be attractive to potential buyers.