If the Bitcoin (BTC) price fails to surpass $60,000 due to the options expiration tomorrow, a drop towards $56,000 is possible.

Analysts from Trade Confident are analyzing whale movements and indicating that the BTC price could fall to $56,000. Similarly, the analyst known by the nickname Crypto Pump Analytics shares the same target. Currently, the Bitcoin price is trading below the $60,000 level and is trading at $58,400 at the time of writing. The expected buyer appetite in altcoins after the recent decline has not yet formed. Tomorrow, a deeper bottom may be seen.

Options expiration could lead to significant fluctuations in the BTC price. According to Deribit data, $1.4 billion worth of options are set to expire tomorrow. In this case, if the $60,000 level, which is considered the maximum pain point, is not breached, the sell-off could deepen to $56,000.

In addition, according to Farside Investors data, spot Bitcoin ETFs, which saw net inflows for two days, experienced a net outflow again on August 14, with an outflow of $81 million. This may be due to the fact that positive macro data did not create enough excitement and the declaration of a global emergency due to the monkeypox virus.

Farside Investors notes that positive CPI data could lead to more inflows, as investors position themselves to benefit from the expected rate cut and the potential for a market rally. As a result, continued and accelerating inflows into these ETFs could reflect a shift in sentiment toward riskier assets.

The CPI data was announced as 2.9% on an annual basis, which represents the lowest increase since 2021.

Regarding the future price movements of BTC, analysts at Trade Confident state that whale movements signal a drop to $56,000. Due to the expiration of options and the lack of volume over the weekend, a downward fluctuation in the BTC price is possible in the next 48 hours. Crypto Pump Analytics analyst also showed $56,000 as a target in his analysis today. However, it should be remembered that cryptocurrency markets are difficult to predict and there is a possibility that the price may move in the opposite direction with surprise news or volume purchases. Considering that Bitcoin has been exhibiting tight price movements for a long time, this situation is expected to end at some point.

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