The options market shows that traders are positioned for a bearish outlook, with Bitcoin and Ethereum potentially facing pullback risks.

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[Block Rhythm] On August 6, the recent performance of Crypto Assets prices has been lackluster, which seems to have prompted some market participants to shift towards bearish positions. A certain crypto options platform stated that its options positions expiring on August 29 have clearly favored put options for Bitcoin and Ethereum, indicating that traders are hedging against a price fall before the end of the month.

The research director of a certain crypto options platform stated that as of August 29, the number of Ethereum put options has exceeded call options by more than 10%, with the largest interest concentrated at strike prices of $3200, $3000, and $2200. The analyst noted that this layout is consistent with expectations for 'any situation from a mild correction to a deeper adjustment.' The bearish tendency for Bitcoin is even more pronounced. The open interest of Bitcoin put options expiring on August 29 is almost 5 times that of call options, with about half concentrated at the $95,000 strike price, and roughly a quarter at the $80,000 and $100,000 strike prices. The analyst pointed out that this distribution shows traders 'are making large bets that Bitcoin will fall below $100,000.'

BTC1.9%
ETH5.33%
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ShibaSunglassesvip
· 08-09 02:31
Being bearish is for smart people.
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PriceOracleFairyvip
· 08-08 03:05
puts going brrrr... classic retail fomo trap setup tbh
Reply0
DegenWhisperervip
· 08-06 10:44
All in and it's done.
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GateUser-26d7f434vip
· 08-06 10:43
Good job, this short order is guaranteed to make a profit.
View OriginalReply0
UncleWhalevip
· 08-06 10:21
Going to trap people again, huh?
View OriginalReply0
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