Analysis: Bitcoin Options Sentiment Turns Bearish, Market Expectations for a Drop Below $80,000 Increase

Odaily News According to Cointelegraph, as spot Bitcoin ETF outflows continue, the Bitcoin options market is sending clear bearish signals, with market expectations for BTC falling below $80,000 on the rise. In the derivatives market, the Bitcoin options delta skew indicator surged to 17%, hitting a new high in over a year, significantly above the typical neutral market level of no more than 6%, reflecting extreme risk-aversion sentiment. Additionally, the total open interest in Bitcoin futures has dropped to $46 billion, a notable decline from the $58 billion peak three months ago, indicating that excessive leverage is being gradually unwound. Overall, sentiment in the Bitcoin derivatives market leans cautious. Analysis suggests that whether Bitcoin can reclaim the $87,000 level may depend on whether market risk appetite recovers after macroeconomic uncertainties ease. (Cointelegraph)