Bitcoin Price Dropped to $78K Levels, Following Today’s $5B BTC Options Expiry

Key Points

• Today, BTC dropped to $78,000 levels from $86,000 prices on February 27.
• Almost $5 billion in BTC options expired today, while the crypto market recorded $918 million in 24-hour liquidations.

Earlier today, Bitcoin price dropped to $78,000 levels from $86,000 prices yesterday. This morning almost $5 billion in BTC options expired, triggering market volatilty.

Bitcoin Is Trading Above $78,000

At the moment of writing this article, BTC is trading below $79,000, down by over 8% in the past 24 hours.

BTC price in USD today

Bitcoin’s price drop comes amidst a broader market decline of 8.5% in the past 24 hours. Earlier today, a significant amount of Bitcoin options expired on Deribit, triggering market volatility. Almost $5 billion BTC options expired at 08:00 (UTC).

Coinglass data shows that around $918 million in crypto liquidations were recorded in the past 24 hours. Over $810 million were in long positions and more than $108 million were in shorts.

Coinglass data

BTC recorded over $444 million in liquidations, $403 million in long positions, and $41 million in shorts.

BTC ETFs also recorded another day of outflows yesterday above $275 million, marking the 8th consecutive outflow day for the crypto products, according to data from SoSoValue . BTC ETFs recorded over $3 billion in outflows in this period.

SoSoValue data

Bitcoin’s Volatilty Amidst Market Turbulence

Bitcoin recorded a volatile week, dropping from $96,000 on February 24 to current levels. The price decline was triggered by multiple sell-offs in the market, continued outflows from BTC ETFs, and political uncertainty triggered by Trump’s latest tariff threats to the EU.

This week’s market decline comes following the recent LIBRA memecoin scandal, and the Bybit $1.5 billion hack.

Bitcoin is currently down by about 25% from its ATH above $108,000 recorded in January.

While the Fear and Greed crypto index currently shows 21, this week, some traders have been buying the dip , taking Trump’s son, Eric Trump’s advice.

Eric Trump via X

Binance’s CEO, Richard Teng also addressed the recent market turbulence saying that it’s important to view it as a tactical retreat, and not a reversal.

Richard Teng via X

Also, it’s important to note that the exploration of digital asset bipartisan legislation has been recently confirmed in the US, meaning clearer crypto regulations. The SEC has just officially stated that it does not view memecoins as securities.