Bitcoin Options Market Reflects Fear and Lack of Confidence

A recent analysis by Glassnode indicates that the Bitcoin options market remains shrouded in fear, with traders lacking confidence in a sustained recovery. Data reveals that long-term call options with a strike price of $120,000 haven’t seen any progress toward establishing long-term positions. Traders have even taken advantage of short-lived upticks to sell these options at the $120,000 strike, even for those with extended expirations. This trend suggests a general reluctance towards optimistic bets on a significant Bitcoin price rebound.