Bitcoin Stuck Above $65K as Options Market Remains Bullish

Bitcoin's price has been stuck at around $65K for some time now, as it faces resistance from key moving averages. Despite this stagnation, options open interest remains strong at $25 billion, indicating optimism among institutional traders.

The spot Bitcoin ETF inflows provide a baseline demand, but supply overhead limits significant price increases near $65,500, $67,000. The short-term outlook is neutral to weak bearish, while long-term fundamentals suggest potential price growth towards $75,000, $90,000.

Easing Federal Reserve rate hike expectations and global central bank rate-cutting cycles are acting as a supportive liquidity tailwind for risk assets generally, preventing deeper drawdowns.