Bitcoin Options: Transition from Bull to Bear Market

Change in Bitcoin Options Operations

Bitcoin options market has recently undergone an unexpected shift. Investors have shifted their previously bullish positions to bearish ones. Put options have become the leader 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. Particularly, there has been intense trading activity on options at the $80,000 level for December.

Decline in Bitcoin Price

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