According to BlockBeats, recent economic concerns, including rising inflation and disappointing employment data, have contributed to a decline in Bitcoin's price. CoinDesk reports that indicators in the options market suggest a shift in market sentiment, with Bitcoin's long-term bullish outlook turning neutral.
Griffin Ardern, Head of Options Trading and Research at crypto financial platform BloFin, noted a concerning sign in the recent market pullback. He observed that the bullish sentiment for Bitcoin's long-term options has dissipated, now firmly holding a neutral stance. This indicates that the options market perceives it as challenging for Bitcoin to establish a long-term upward trend, with the likelihood of reaching new highs in the coming months decreasing. A similar situation last occurred in January and February of 2022.