Bitcoin Retreats to $65K Ahead of $1.2B Options Expiry

Bitcoin's price retreated to $65,000 after spot exchange-traded funds (ETFs) recorded net outflows of $225 million on July 23. This came amid a major options expiry and rising oil prices that stopped its rebound from extending beyond $66,800.

The U.S. technology shares suffered their sharpest sell-off since April 2025, with the Magnificent Seven falling 4.8% on July 23 and losing about $797 billion in combined market value. However, Bitcoin fell less than 1% during the equity sell-off, showing relative strength against technology stocks.

The decline in risk appetite denied BTC the new capital needed to clear the $66,800 resistance area. The rising oil prices also posed a threat, with West Texas Intermediate crude easing to about $90.59 on Friday and Brent holding near $98.87 after briefly trading above $100.