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Bitcoin Price Dips 3% to $84K: Options Traders Eye $100K Target

Bitcoin Price Dips 3 to 84K Options Traders Eye 100K Target

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Bitcoin Price Dips 3% to $84K: Options Traders Eye $100K Target

Bitcoin’s price retreated from its recent FOMC-driven rally, dropping 3% to $84,000 during Asian trading hours on Friday. Despite the short-term pullback, options market data suggests growing confidence in Bitcoin reaching the coveted $100,000 level by mid-2025.

Market Overview: Post-FOMC Profit Taking

The broader cryptocurrency market experienced a correction as traders took profits following Thursday’s Federal Reserve-induced rally. Key highlights include:

  • Overall crypto market cap declined 3.2% in 24 hours
  • Bitcoin dropped from $86,000 to under $84,000
  • Ethereum fell below $2,000
  • Solana’s SOL declined 5%

Options Markets Signal Bullish Sentiment

Despite the short-term pullback, derivatives markets are showing increasingly bullish positioning. According to Dr. Sean Dawson of derive.xyz:

  • Probability of BTC exceeding $100K by June 30 increased from 20% to 30%
  • ETH maintaining $2,000+ by June has 50% probability
  • 60% of recent ETH options trades were bullish calls
  • 34% of BTC options volume shows traders hedging downside risk

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Technical Analysis and Support Levels

FxPro analyst Alex Kuptsikevich identifies key technical levels:

  • Critical support at $80,000
  • 200-day moving average near $2.9 trillion market cap
  • Break above MA could trigger renewed buying interest
  • Risk of bear trap remains present

Other Notable Market Movements

While major cryptocurrencies declined, some tokens showed strength:

  • Tron (TRX) gained 2% after launching on Solana
  • TON rose 2% following $400M VC investment news
  • XRP consolidated after Wednesday’s 10% spike
  • BNB maintained 8% weekly gains

FAQ Section

What caused Bitcoin’s price drop today?

The decline was primarily due to profit-taking following Thursday’s FOMC-driven rally, as traders locked in gains from the recent surge above $85,000.

Will Bitcoin reach $100,000 in 2025?

Options market data shows increasing confidence, with a 30% probability of Bitcoin exceeding $100,000 by June 30, 2025, according to derivatives platform data.

What are the key support levels to watch?

Analysts identify $80,000 as a critical support level for Bitcoin, while the broader crypto market needs to maintain the $2.9 trillion market cap level.

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