Bitcoin wavers below $88K ahead of $1.4B options expiry
Bitcoin is trading under $88,000 as the market prepares for a major $1.4 billion Bitcoin options expiry, a key event that often increases volatility across the crypto sector. Traders are becoming increasingly cautious as BTC struggles to hold higher levels after a sharp correction earlier in the week.
According to data referenced in the article, much of the market’s current hesitation is linked to the unusually large options expiry event, which is set to unwind contracts representing a wide range of strike prices. This includes a significant cluster of open interest between $90,000 and $100,000, meaning a failure to reclaim the high-$80,000 region gives bears temporary control.
Several traders note that the recent price weakness is partly driven by macro factors. The U.S. dollar index (DXY) has risen steadily, creating downward pressure on risk assets, including Bitcoin. At the same time, uncertainty around U.S. Federal Reserve monetary policy — specifically speculation about the timing of future rate cuts — is adding to market tension.
On-chain data suggests that many Bitcoin holders remain in profit despite the correction, but short-term holders are showing signs of capitulation. Analysts observe that Bitcoin recently dipped below several important short-term cost-basis levels, pointing to stress among leveraged traders.
Well-known trader Rekt Capital noted that BTC is currently below a key re-accumulation range, which historically provided support. If Bitcoin remains under this zone through the options expiry, he warns the market may see a deeper retest toward $83,000–$85,000.
Others, however, see the pullback as part of a normal cycle reset. Analysts point to Bitcoin’s long-term uptrend and highlight that corrections of 20–30% have historically occurred multiple times during major bull markets. They argue that strong spot accumulation and ETF inflows could limit downside risk once the options expiry is out of the way.
As the $1.4 billion expiry approaches, traders are watching key levels:
- Support: $85,000 and $83,000
- Resistance: $88,000–$90,000 zone
- Key reclaim: $92,000 for bullish confirmation
The market remains fragile, but analysts agree that volatility will likely spike once the options contracts settle — setting the stage for Bitcoin’s next major move.
Source: Cointelegraph
XRP toward a macro shift
XRP may be on the verge of a major macro shift, supported by historical market structure, long-term technical indicators, and renewed on-chain strength. Despite the recent volatility in the broader crypto market, analysts argue that XRP is entering a phase similar to previous multi-year turning points that preceded large price expansions.
Long-term structure shows compression before expansion
According to the article, XRP’s multi-year price action resembles a long consolidation cycle marked by low volatility, tightening ranges, and decreasing downward momentum. Analysts compare the current structure to earlier periods where XRP traded sideways for months before producing large impulsive rallies.
The chart analysis highlights that XRP has been trading inside a macro triangle or compression pattern. Each cycle shows gradually higher lows forming a broad base, suggesting diminishing seller strength over time. These long consolidation zones historically preceded XRP’s strongest bull runs.
The article argues that XRP’s long-term chart now shows signs of exhaustion among bears, while accumulation by long-term holders has increased.
Indicators suggest a potential trend reversal
Several technical indicators point toward a forthcoming macro shift:
- MACD on the weekly timeframe is nearing a bullish cross after months of bearish momentum.
- RSI shows bullish divergence, meaning price made lower lows while RSI formed higher lows.
- Volume profile indicates strong interest at current levels, consistent with accumulation behavior.
Analysts say these signs support the idea that XRP is preparing for a multi-quarter trend change rather than a short-term rebound.
Historical analogues: 2017 and 2020
The article compares the current market structure to XRP’s behavior before its previous two macro rallies:
- In 2017, XRP consolidated for nearly a year before exploding upward.
- In 2020, the price moved within a long accumulation structure before breaking out.
In both cases, declining volatility and compressing patterns preceded the breakout.
Current market conditions, according to analysts, look similar: a prolonged sideways phase following a harsh correction.
Catalysts for future growth
NewsBTC notes several potential triggers for a long-term uptrend:
- Expansion of institutional adoption under the new MiCA regime
- Growth in on-chain utility, including XRP Ledger (XRPL) smart contract features
- Renewed interest in alternative L1s as markets rotate out of Bitcoin dominance
- Long-term investor accumulation
- Anticipated improvement in global liquidity conditions
The article concludes that XRP appears to be preparing for a major macro reversal, supported by structural patterns, long-term indicators, and a broader rotation in the crypto market. While timing remains uncertain, analysts believe XRP’s multi-year compression phase is nearing its end, potentially giving way to a powerful upward trend in the coming quarters.
Source: NewsBTC
Spain proposes 47% crypto tax and new “risk warning system” in major crackdown on Bitcoin
Spain’s left-wing political alliance Sumar has introduced a sweeping proposal that would dramatically reshape the country’s taxation and regulation of cryptocurrencies. The initiative targets three major legal frameworks at once: the General Tax Law, the Income Tax Law, and the Inheritance and Gift Tax Law, making it one of the most aggressive crypto-related legislative pushes in Europe.
Massive tax hike: up to 47% on crypto gains
The proposal seeks to move crypto gains from Spain’s investment-income category into the standard income-tax brackets, where the top rate reaches 47%. This would replace the current capital-gains regime, which tops out around 30%. For companies holding crypto, Sumar suggests a flat 30% corporate tax on digital-asset profits.
If approved, Spain would instantly become one of the highest-taxed crypto jurisdictions in the EU.
Crypto labeled “seizable assets” + mandatory risk-warning system
The proposal goes far beyond taxation. Sumar also wants:
1. Crypto defined as fully seizable property
All cryptocurrencies would be classified as attachable and seizable assets.
Legal and financial experts quickly pointed out that this is practically impossible to enforce — especially for self-custodied Bitcoin wallets or assets governed by EU-regulated MiCA frameworks.
2. Exchanges must implement a traffic-light “risk warning” interface
Platforms would be required to create a visual risk scoring system (green, orange, red) to evaluate the danger level of each crypto asset.
Critics argue this system would be subjective, and difficult to standardize across decentralized assets.
Heavy backlash from the Spanish crypto sector
Economist José Antonio Bravo Mateu condemned the proposal as an outright “attack against Bitcoin,” calling the seizure measures “nonsensical” and incompatible with the technological realities of decentralized assets.
Analysts warn that such an aggressive stance could trigger capital flight, pushing Spanish investors to move their digital wealth offshore or into self-custody outside government control.
Potential consequences and next steps
If adopted, the reforms would severely impact high-net-worth retail investors, crypto-heavy businesses, and trading platforms. The combination of punitive tax rates and intrusive control mechanisms could undermine Spain’s competitiveness as a European fintech hub.
The proposal must still pass through the Spanish Parliament — meaning debate, amendments and political negotiation are likely. However, the initiative signals a broader trend: several EU nations may soon revisit their crypto tax frameworks following the introduction of MiCA, potentially making Spain the first test case of stricter national policy layered on top of EU-wide regulation.
Source: Cointelegraph