Bitcoin Options: Transition from Bull to Bear Market

Change in Bitcoin Options Operations

Bitcoin options market has recently undergone an unexpected turnaround. Investors have shifted their previously bullish positions to bearish ones. Put options have taken a leading position in open positions, signaling a significant change.

Increase in Downside Protection

Market participants are buying more put options to protect themselves against the risk of a decline. In particular, a high level of trading activity has been observed on options at the $80,000 level for December.

Decline in Bitcoin Price

Bitcoin price has fallen over 25% since October 8, decreasing to the $91,000 level. This decline has created additional uncertainty among investors and led to changes in options strategies.