In addition to prolonged negotiations between the US and Iran, the Federal Reserve (FED) under new chairman Kevin Warsh has introduced tightening monetary policy, reducing appetite for risk assets, which led to Bitcoin’s decline. However, the data shows that Bitcoin’s decline is not over yet, with preparations for the $52,000 level.
According to Deribit data, $BTC Option traders are buying put options, betting that the price will fall to $52,000.
According to Deribit data, there has been significant buying activity in short-term and short-term put options in the past 48 hours. Specifically, there was significant buying activity in put options expiring between June 22nd and July 31st.
Therefore, Bitcoin options traders are predicting that the price could fall to $52,000 within the next few weeks.
According to the data, notable levels among investors included put options expiring June 22 with a strike price of $61,500. July 3rd, $60,000 and $55,000. Expires July 10th for $55,000. Expires July 31st for $52,000.
Analysts say the options market is not the only reason for the pressure on Bitcoin. This decreasing trend is $BTC USD strengthens after Fed’s hawkish comments due to continued outflows from spot $BTC ETFs, and concerns surrounding MicroStrategy (MSTR).
*This is not investment advice.
