Bitcoin Plummets to $65K Amid ETF Outflows and Options Expiry

Bitcoin's price plummeted to $65,000 due to significant outflows from U.S. spot ETFs and the expiration of a massive options contract worth $1.2 billion. This has set a key support level at $64,500 for Bitcoin.

The price remains above a rising trendline but faces resistance near $66,800, with risks from higher oil prices and geopolitical tensions potentially limiting Federal Reserve rate cuts.

Market watchers are cautious as Bitcoin navigates these technical and macroeconomic challenges. A close below $63,700 could lead to a deeper decline toward $60,000, while a move above $66,800 would signal renewed buyer control.