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Bitcoin bears currently hold a dominant position ahead of the upcoming $13 billion options expiry, signaling potential further downward pressure on BTC prices. The expiry, one of the largest in crypto history, could trigger increased volatility as market participants adjust positions. Analysts warn that if the $29,000 support level breaks, it might accelerate a broader bearish trend. This event matters for traders as it could amplify short-term price swings, particularly affecting leveraged positions and options strategies. The outcome will also test market resilience amid broader macroeconomic uncertainties like Fed policy shifts and global risk-off sentiment. Investors should monitor Bitcoin's reaction to the expiry and subsequent price action around key psychological levels.
