Bitcoin bullish bets now a bargain as weekly loss underlines bearish trend: Crypto Daybook Americas

Bitcoin experienced its largest weekly loss in two months, falling 7% and breaking below a crucial bullish trendline that marked its rally from $20,000 in early 2023 to a record high of $126,000 last October, reinforcing bear market concerns. This bearish technical signal was accompanied by weakening institutional interest, evidenced by $1.33 billion in net outflows from U.S. spot ETFs last week, the most in 11 months. Despite the gloom, analysts suggest that bullish derivative contracts, specifically BTC call options, are now attractively priced, or a "bargain," because downside protection (puts) has become the crowded trade. If investors maintain a long-term bullish thesis, these cheap calls offer high upside potential for a small upfront cost. The article also notes broader market context, including gold and silver hitting peaks, and an odd historical correlation where South Korea's Kospi index hitting new highs has preceded downside swings in Bitcoin.

(Source：CoinDesk)