The Bitcoin options market has undergone a dramatic shift, with investors now leaning towards bearish bets rather than expecting price increases. Previously focused on potential price surges, current market data reveals a concentration of short-term put contracts in the $80,000 and $90,000 ranges, indicating significant uncertainty about future price movements. This shift follows Bitcoin’s 25% plunge since October 8, now trading at around $91,000. Deribit data reveals a notable increase in put option interest, with open interest for the $140,000 call option plummeting while the $85,000 put option surged to $2.05 billion. Strong put accumulations also exist at the $80,000 and $90,000 levels, further cementing a bearish market sentiment.