Bitcoin Price Hits Three-Week Low Amidst Record Options Expiry and ETF Outflows

Bitcoin's price plummeted to its lowest level in over three weeks as $14 billion in options expired, exacerbating an already cautious market. This development came amidst continued outflows from spot Bitcoin products, with investors withdrawing $171 million from spot ETFs on Thursday.

However, on-chain data paints a more nuanced picture, indicating that large holders and smaller wallets continue to accumulate Bitcoin. According to Santiment, wallets holding between 10 and 10,000 BTC added 61,568 BTC over the past month, a 0.45% increase. Smaller holders also showed similar behavior, increasing their balances by 0.42% over the same period.

Analysts are watching for potential oversold bounce signals as Bitcoin trades below its October 2025 all-time high of $126,000. The current price leaves BTC down 47.42% from that peak, with a market capitalization near $1.33 trillion. Crypto analyst XO predicts that if April sees an early sweep into the $55–60K range, it could create a compelling setup for mean-reversion longs.