If Bitcoin bulls can hold $65,000 it could be the market bottom, yet hedgers are panic buying protection

Bitcoin recently recovered towards the $65,000 level after dipping into the low $63,000s, a bounce supported by a significant net inflow of $257.7 million into U.S. spot Bitcoin ETFs on Tuesday, interrupting a recent streak of outflows. However, the options market signals caution, as the 7-day put-call skew worsened significantly from -6% to -17%, indicating traders are aggressively buying downside protection. This divergence suggests that while spot buying is present, market participants view the rebound as unstable, potentially due to macro uncertainty like new tariff announcements. The key test for bulls is sustaining a hold above $65,000 to target higher resistance levels; failure to do so, amid continued hedging, could lead to a retest of lower support around $61,000 or even $56,048 if macro shocks persist.

(Source：CryptoSlate)