Bitcoin Tops $81K Before Falling Back, Options Market Points to $85K Target

Bitcoin temporarily reached a weekly high of $81,148 before falling back down to $79,812. This marks an important level for analysts, who are watching the range between $80K and $83K. The same range had previously capped Bitcoin's rally in May.

Pav Hundal, Lead Analyst at Swyftx, noted that this stretch of the market has a habit of turning rallies back. He framed the question: Could this level turn into another wall for BTC to bump against, or could it instead become the launchpad for the next leg higher?

The options market suggests that Bitcoin is sitting in a tight range between $80K and a major call wall at $82K.