Bitcoin BTC has dropped below $75,000, indicating the fragility of its early Asian session rally. The move was likely driven by large bearish bets tied to $60,000 put options, which led to a rise in the spot price. However, the early gains were not accompanied by significant upside call buying, usually indicating traders are positioning for further upside. This failure to stay above $74,400 indicates a potential short-term ceiling for the market. Other major currencies such as ether (ETH), XRP (XRP), solana (SOL), BNB B.