Bitcoin’s price dropped to a more than three-week low as traders became cautious after a large number of options contracts expired, and investors continued to pull money out of crypto ETFs.
Bitcoin’s price dropped to $65,498 on Friday, a level it hadn’t reached since March 2nd. This coincided with the expiration of around $14 billion worth of Bitcoin options contracts.
As of today, Bitcoin is trading at $66,322, which is down 2.28% over the past 24 hours and 6.11% for the week. While Bitcoin is currently 47.42% below its peak price of over $126,000 reached in October 2025, some market indicators suggest it may be undervalued. Several analysts believe this could signal a potential price increase in the near future.
XRP Sets up Bear Trap, Shiba Inu Bull Market Confirmed; If This Hits, Will Ethereum Hold $2,000? Crypto Market Review
Mystery Whale Rapidly Accumulates 35 Million in XRP in Under Hour
Despite the recent price drop, large Bitcoin holders – known as whales – are actually buying more, which some analysts see as a positive signal that the price might soon increase. Data from Santiment shows these whales and large investors have added 61,568 BTC to their holdings in the last month, a roughly 0.45% increase.
Wallets holding less than 0.01 BTC have increased their holdings at almost the same rate as large investors (whales and sharks) over the last month, adding 0.42% to their balances.
After four months of net selling, Bitcoin ETFs experienced about $1.4 billion in net inflows during March. Despite this positive trend, investors pulled out $171 million from these ETFs on Thursday.
Bitcoin oversold but not out?
Even with a bit of positive outlook, crypto analyst Willy Woo cautions that Bitcoin could remain in an oversold state for a very long time – potentially longer than some investors can afford to wait.
Warning: BTC can stay oversold for more months that one can stay solvent.
— Willy Woo (@willywoo) March 28, 2026
Woo made these comments after a Bitcoin trader pointed out that Bitcoin’s monthly Relative Strength Index (RSI) had fallen to very low levels, historically leading to significant price increases.
The market appears to be slowing down and stabilizing, with less trading happening and investors taking a more cautious approach.
Woo’s warning seems to suggest a stabilization phase in the market following a continued sell-off.
Deribit data shows the most active options contracts right now are puts with a strike price of $60,000. Over the past 24 hours, traders have been buying more puts than calls – the ratio is 1.3 to 1 – suggesting they’re preparing for a potential price drop as the weekend approaches.
Read More
- Brent Oil Forecast
- CNY JPY PREDICTION
- Silver Rate Forecast
- Gold Rate Forecast
- Whispers of the Digital Aristocracy: A $47.5M Secret Unveiled
- EUR AUD PREDICTION
- USD VND PREDICTION
- Kraken’s Jesse Powell Dodges Legal Storm with Style 🌀⚖️
- Gamblers, Missiles, and a Dash of Folly: A Tale of Modern Woes
- Bitwise XRP ETF Smashes Records: $1 Billion Soon!
2026-03-28 14:03