Bitcoin (BTC) Price Today: Traders Prepare For Crash to $75K
CoinDesk
Traders are heavily buying $75,000 put options, suggesting expectations of a further Bitcoin price decline below $83,700.Summary
Bitcoin has recently dropped over 25% to $83,700 this month, leading some traders to anticipate a further crash. Blockchain analytics firm Glassnode observed that traders have been aggressively buying short-term BTC put options with a $75,000 strike price on Deribit since the spot price fell under $94,000. This move reflects a bet that Bitcoin's price could dip below $75,000, similar to the early April low near $74,000. Glassnode noted that the options market currently leans toward the risk of a deeper move, indicating no bottom is yet signaled. This bearish sentiment is further evidenced by put options comprising over 65% of all options activity in the past week, replacing the previously dominant call options.
(Source：CoinDesk)