BTC faces $76K resistance as options market maintains 'bearish bets'

Although Bitcoin is continuing its rally and has reached a four-week high, market confidence in the upward trend remains weak, Cointelegraph reports. The analysis notes that on-chain and derivatives data indicate approximately 43% of BTC holders are still in a loss position. Consequently, investors are favoring defensive put options over bullish call options, with puts trading at about a 10% premium to calls in the BTC options market. The report identifies around $76,000 as a key psychological resistance level, as this is the average purchase price for major companies like Strategy. If the price surpasses this point, it could trigger additional selling pressure.