Bitcoin trades around $84,000 this Friday, after briefly reaching $87,000 earlier this week. Approximately 182,000 Bitcoin options worth $15.6 billion in notional value are expiring on Deribit with a put-call ratio of 0.71, indicating a rather bullish positioning. The $85,000 level corresponds to JPMorgan’s estimated average production cost, a threshold the price must hold to ease pressure on miners, whose hashrate has declined 19% since October. U.S. economic data releases, including durable goods orders and consumer confidence, along with the 10-year Treasury yield near 5%, will constitute the third decisive signal for the session.
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