Bitcoin Options: Transition from Bull to Bear Market

Change in Bitcoin Options Operation

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

Increased Downside Protection

Market participants are buying more put options to protect themselves against the risk of decline. Particularly, heavy trading activity has been observed on options with levels around $80,000 for the December expiry.

Drop in Bitcoin Price

Bitcoin price has fallen by over 25% since October 8, dropping to the $91,000 level. This stance has created additional uncertainty among investors, leading to changes in options strategies.