The Bitcoin options market is sending a clear signal of caution, with traders positioning themselves for potential price declines. Recent data reveals an unprecedented surge in bearish bets, indicating growing skepticism among market participants about the near-term outlook of Bitcoin. 📈 This surge is reflected in staggering numbers, as open interest for put options, particularly at high strike prices ($80,000 and $90,000), has surpassed $1 billion. This massive bearish positioning almost matches the total open interest for call options with strike prices between $120,000 and $140,000. However, market analysts caution against drawing direct bullish conclusions from this data. 🧐