Bitcoin recovered ground on Thursday after dipping to its lowest level since October 2024, as the market prepares for a significant expiry of options contracts that could amplify volatility.
The digital asset touched US$59,023 in New York trading on Wednesday, marking the first time it has broken below the US$60,000 threshold in nearly two years.
By Thursday morning in London, the price had rebounded to approximately US$61,650, suggesting some buying interest returned after the initial sell-off.
By Thursday morning in London, the price had rebounded to approximately US$61,650, suggesting some buying interest returned after the initial sell-off.
The recovery comes ahead of the expiry of Bitcoin options worth US$12.9 billion.
Market analysts warn that this concentration of expiring contracts risks deepening the sell-off if traders adopt defensive or bearish positioning to hedge against further downside.
The expiry adds significant supply-side pressure to a market already testing key support levels.