[Analysis] "Rising demand for Bitcoin put options…short-term pullback possible"
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Summary
- Matrixport said demand for Bitcoin put options has clearly increased relative to calls, signaling growing concerns about the possibility of a short-term pullback.
- It noted that heightened macro uncertainty—driven by U.S. President Donald Trump’s threat to impose tariffs on European products—lies behind the rise in put-option demand.
- It emphasized that the recent Bitcoin pullback is the result of tactical investment decisions in response to macro uncertainty, not a change in fundamental conviction about Bitcoin.
Demand for Bitcoin (BTC) put options has recently been rising, data show.
Crypto analytics firm Matrixport said on the 21st (local time) on X that "in the Bitcoin options market, demand for puts is clearly increasing relative to calls," adding that "this suggests growing concerns about the possibility of a short-term pullback." Matrixport noted that "behind (the rise in put-option demand) is heightened uncertainty following U.S. President Donald Trump’s threat to impose 10–25% tariffs on European products."
Matrixport pointed out that "Bitcoin did not behave like a safe-haven asset in this phase." It said that "(Bitcoin) was influenced by cautious, risk-management-focused positioning by institutional investors," adding that "it showed a relatively stable trend over the weekend, but turned weaker from Monday."
It went on to stress that "the recent pullback does not reflect an intrinsic problem with Bitcoin itself." Matrixport said "(the recent pullback) is the result of tactical investment decisions in response to macro uncertainty," adding that "it does not mean that fundamental conviction in Bitcoin has changed."
