Bitcoin Options Market Sees Surge in Bearish Sentiment

According to PANews, recent analysis by Greeks.live reveals a significant increase in bearish sentiment within the Bitcoin options market. Over the past 24 hours, the proportion of large-scale bearish options transactions has risen sharply, accounting for more than $1.15 billion, or 28% of the total market transactions. These trades are primarily concentrated in shallow out-of-the-money put options for this week and month, with a high volume of activity between the $10,400 and $10,800 range. Additionally, the skew has become more negatively biased, with a particularly noticeable short-term shift. The deepening of this negative bias is comparable to levels observed on the 11th, indicating a high level of fear among major market players, such as market makers, regarding potential market declines. This sentiment mirrors the panic seen after the market crash on the 11th. As a result, emulating these major players by purchasing put options as a defensive strategy may currently be a prudent choice.