The long-standing concern over Bitcoin monthly options expiration has finally been put to rest. The massive open positions that once loomed overhead have been digested, giving the market a chance to breathe.

The current situation is quite interesting—without the pressure from options expiration, Bitcoin's price movement is now more influenced by the spot market and the overall macro environment. For spot traders, this means they have greater influence in the short term.

The key level to watch now is the $71,500 threshold. Whether this hard nut can be cracked will directly determine whether the price continues to surge upward or pulls back to find support. Analysts generally believe that once the price stabilizes above $70,000, there could be new upward potential. Conversely, if it gets stuck here, the market might revisit lower support levels.

In simple terms: the calm period of options has given spot traders a stage to perform, and now it remains to be seen whether they can leverage this window to build a stronger offensive. The main focus right now is whether the $71,500 barrier can be effectively broken.