Bitcoin Drops Under $88K Ahead of Massive $28.5B Deribit Options Expiry

The price of Bitcoin (BTC) has declined, falling below the $88,000 mark. This movement comes as cryptocurrency traders and investors prepare for a significant market event: the expiration of options contracts worth approximately $28.5 billion on the Deribit exchange. Large-scale expiries like this often lead to increased volatility as traders adjust or close their positions. Market participants are closely monitoring key support and resistance levels to gauge potential price direction following this major expiry event. The outcome could influence short-term sentiment and trading strategies across the crypto market.