Blackrock’s Bitcoin ETF Triggers Bearish Shift in Options Market

Bitcoin’s price action remains under scrutiny, as recent developments within the options market surrounding BlackRock’s IBIT Bitcoin ETF highlight a potential shift in investor sentiment. According to reports from CoinDesk citing market research firm Market Chameleon, investor sentiment regarding options tied to this significant spot Bitcoin ETF took a bearish turn on May 29th. This trend was observed throughout the trading session, starting neutral before turning firmly bearish. This development has caught the attention of market observers as it offers insight into how sophisticated investors view the near-term future for Bitcoin.