$70K held four times this week. Today is when we find out if it holds a fifth.
$BTC is sitting at $70,712 with $13.5B in crypto options expiring today on Deribit. Fear & Greed is at 12 extreme fear territory. The kind of number that shows up right before a violent move in either direction.
Here's what makes today different from any other day this week:
→ Quadruple witching hits traditional markets today — trillions in derivatives settle simultaneously
→ When equities move violently on witching days, crypto follows within hours
→ Deribit positioning shows zero directional bets — only volatility hedges
→ Smart money isn't calling up or down — they're just bracing for impact
Four tests of $70K this week and four holds. That's either the strongest support level in this cycle or the most dangerous false floor before a flush.
The options market isn't giving you a direction. It's giving you a warning.
$70K is the only line that matters today. It holds or it doesn't. Everything else is noise.
Neutral. Watch the level. 👀