Bitcoin has stabilized above $70,000 — a show of relative resilience after a week that saw it drop from $75,000, gold tumble 5%, oil surge above $110 a barrel, and rate-hike odds on prediction markets leap from 8% to 24%. The hawkish Fed, a hotter-than-expected PPI print, and ongoing supply disruptions from the closure of the Strait of Hormuz have weighed on risk assets across the board. One analyst sees the upside emerging. Today's quadruple witching adds another test.
Bitcoin holds steady. One analyst sees the upside emerging.
Despite a brutal week for most risk assets — gold down 5%, oil above $110, the S&P 500 below its 200-day moving average for the first time in 10 months — BTC has stabilized just above $70,000. The perceived odds of a Fed rate hike surged from 8% to 24% on prediction markets after Wednesday's hawkish hold. BTC/SPX may be showing early signs of bottoming out, with RSI bouncing off oversold levels, but traders are being urged to hold dry powder until the dust settles.
$5.7 trillion in derivatives expire today. Crypto is watching closely.
Today is quadruple witching — the quarterly event when stock index futures, stock index options, single-stock options, and single-stock futures all expire at once. An estimated $5.7 trillion in contracts settle today, with volume likely to spike in the final hour. Bitcoin faces a double-event: $1.7 billion in BTC options also expire on Deribit today, with a max pain price sitting at $70,000 and a put/call ratio of 0.96. Historically, crypto's most significant witching-day reactions come in the days and weeks after, not on the day itself.
Ripple survey: 7 in 10 finance leaders say digital assets are now non-negotiable
A new Ripple survey of more than 1,000 global finance leaders finds digital assets have moved from experiment to strategic necessity. Seventy percent say firms must offer digital asset solutions to stay competitive. Stablecoins drew the strongest consensus: 74% of respondents said they can improve cash-flow efficiency and unlock working capital — a signal that the stablecoin use case has moved firmly into the treasury suite, not just payments.
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