Data: Bitcoin retests $90,000, increased demand for downside protection and risk hedging begins
ChainCatcher news, glassnode posted on X platform stating that options market data shows as bitcoin retests the $90,000 level, market sentiment has turned cautious. Implied volatility increased as the price moved towards $94,000, then declined as the price stagnated, indicating that volatility sellers stepped in after momentum weakened.
In addition, volatility risk premium remains positive, which is favorable for volatility sellers. Options flow over the past 24 hours shows that nearly 30% of trades involved buying put options, reflecting increased demand for downside protection and ongoing risk hedging ahead of price weakness and the release of key US macroeconomic data, rather than an expectation of a trend breakdown.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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