Bitcoin Slips Below $64K as Options Expiry Weighs on Price

Bitcoin fell short of its $65,000 target as it slipped below $64,000 on Friday. The price decline was largely attributed to a large monthly options expiry that settled around one of the market's most closely watched strike levels.

The event saw roughly 149,000 Bitcoin contracts expire with maximum pain at $64,000 and a put-call ratio of 0.28, carrying about $9.6 billion in notional value.

Despite call-heavy positioning that favored higher strikes, limited spot demand prevented BTC from sustaining gains above $65,000, leaving the price action pinned near expiry.