Thursday, April 2, 2026 at 10:00 PM

BTC Dips Below $62K as Traders Take Profits

$61,580-0.8%

A routine pullback after a strong rally. No structural damage to the bull thesis, but traders should watch the $61K level and Friday's options expiry for volatility.

Probability of reaching $60K

82%

Based on current support levels and macro tailwinds.

Bottom Line

A routine pullback after a strong rally. No structural damage to the bull thesis, but traders should watch the $61K level and Friday's options expiry for volatility.

Macro Read

Equity markets closed mixed with the S&P 500 flat and Nasdaq down 0.3%. The dollar strengthened slightly on better-than-expected jobless claims data. Crypto markets saw broad profit-taking after a strong week.

Price Action

Bitcoin failed to hold the $63K level and drifted down to $61,580 through the afternoon session. Selling pressure was measured, not panic-driven. The $61,200 support level held during a brief wick to $61,050. RSI on the 4H chart at 44 — not oversold.

Key Catalysts

  • Profit-taking after 5 consecutive green daily candles
  • Strengthening US dollar pressured risk assets
  • Large options expiry tomorrow — $1.2B notional at stake

Sentiment

55/100Neutral

Markets in wait-and-see mode. Funding rates slightly positive. Options market pricing modest volatility into Friday expiry.

Risks

  • Tomorrow's options expiry could trigger volatile price swings
  • Potential cascade of long liquidations if $61K support breaks
  • Geopolitical tensions in Middle East creating risk-off undercurrent

What to Watch

  • Friday options expiry — max pain at $60K
  • Weekly close above $62K would be bullish signal
  • Stablecoin minting activity — USDC supply expanding again