Bitcoin Options Trade Exceeds $1M as Bearish Sentiment Grows
A significant bitcoin options trade occurred on Deribit, indicating bearish sentiment among traders. Key points include:
- A block trade involved 1,180 contracts of the $70,000 put option expiring April 25, with a premium exceeding $1 million.
- A put option allows the buyer to sell the asset at a set price, indicating expectations of a price decline below $70,000 from the current price of $84,000.
- Other trades included a put ratio spread and a risk reversal strategy.
- Recent activity shows increased demand for put options in the $76,000 range, reflecting bearish sentiment.
- Bearish flow suggests investors are cautious ahead of anticipated announcements regarding tariffs that could impact risk assets like cryptocurrencies.
