Bitcoin retreats below $85,000 following quarterly options expiry

Bitcoin (BTC) fell to approximately $84,000 on Saturday morning after failing to sustain levels above $85,000. The decline followed the expiration of $15.6 billion in options on Deribit, which triggered mechanical hedging sales by market makers. Despite the volatility, technical indicators like the 50-day moving average remaining above the 200-day average suggest a bullish underlying trend, with $85,300 identified as a key resistance level. Meanwhile, U.S. spot Bitcoin ETFs have seen six consecutive days of net inflows, helping to recover year-to-date performance, with BlackRock's IBIT recording $162.6 million in inflows on Thursday.