Latest Situation in Bitcoin: Panic and Uncertainty Prevail – Here’s What the Option Data Reveals

On-chain analysis platform Glassnode stated in its latest options market report that Bitcoin investors are still in a state of intense panic and insecurity. According to the data, there is no expectation of a strong bottom reversal in the options market, neither in the near term nor in the medium-long term. According to Glassnode's analysis, there are no signs of accumulation, particularly in medium- and long-term call options with a strike price of $120,000. On the contrary, even brief market rallies are being exploited by investors to sell these call options. This suggests weak long-term optimism. One of the most striking parts of the report is the sharp shift in the put-call balance in short-term (1 week–1 month) options to the sell side. Glassnode notes that short-term put options dominate by approximately 11-12%, suggesting that short-term expectations are where market fears are most acute. Related News: Watch Out: Fake Cryptocurrency App Detected on Google Play When we look at the premium movement of short-term put options with a $100,000 strike price, the picture becomes even clearer: In just three days, the net premium paid on these options skyrocketed from near-negative levels to over $7 million, suggesting investors were aggressively buying short-term protection. While the sharp correction after Bitcoin hit its all-time high (ATH) on October 31 wiped out many open positions, half of that was rebuilt within a week, according to Glassnode data. Option open interest data is hitting new records as expiration dates approach. Moreover, after Bitcoin fell below $107,000, options volume rose sharply and remained high, suggesting intense repositioning in the market. *This is not investment advice. Continue Reading: Latest Situation in Bitcoin: Panic and Uncertainty Prevail – Here’s What the Option Data Reveals