"Bitcoin fails to break through $115,000 three times… Defensive positions seen in options market as well"
Summary
- Bitcoin (BTC) reportedly failed to break through the $115,000 resistance line three times recently, leading to diverging market outlooks.
- Some investors are betting on a decline below $102,000 and are actively purchasing put options.
- Currently, with option prices being low and the upward momentum slowing, risk management positions are said to be expanding in the market.
Bitcoin (BTC) has recently failed to surpass the $115,000 mark three times, leading to mixed market outlooks.
On the 12th (local time), Adam, a researcher at Greeks.live, stated on X (formerly Twitter), "As Bitcoin’s price continues to face resistance, some investors are doubting the potential for new highs and are preparing for a possible decline."
In particular, some investors are betting that the price will fall below $102,000 by the end of this month and are actively buying put options, which allow them to profit if the price drops. They believe option prices are currently inexpensive due to the low market volatility.
On the other hand, bullish investors are still maintaining their positions in anticipation of a rise to $145,000. However, there are also observations in the market indicating that the upward momentum has somewhat weakened.
Adam explained, "As Bitcoin repeatedly fails to break its highs, some investors are placing more emphasis on possible declines and are hedging their risks in various ways."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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