BTC's price bounce fails to convince options traders: Crypto Daybook Americas

Bitcoin's recent price surge to $70,000 has sparked optimism on social media, but options market activity suggests professional traders remain cautious. Data from Deribit shows that while there was some call buying, downside skew remains elevated across all time frames, indicating persistent worry about potential price drops below $60,000. The $60,000 put option remains the most popular position by notional open interest, surpassing the popular $90,000 call strike. However, dealer positioning has shifted to neutral to slightly positive gamma, suggesting compressed volatility and range-bound price action in the short term. Analysts suggest that a sustained uptrend confirmation requires Bitcoin to break above the $74,000-$75,000 resistance zone. Bitcoin was trading near $68,500 at the time of the report, with broader crypto markets seeing larger gains.

(Source：CoinDesk)