While BTC continues to hover at a high of $44,000, the options market is showing mixed signals.
Both the BTC and ETH block trades were dominated by put buying and more than half of the block trades, $13 million and $88 million respectively, totaling $100 million.
And with the largest trades being deeper OTM options of P1,600 and P37,000 at the end of January, respectively, the giant whales are adding to their bearish positions at a time of high market sentiment, and traders need to be wary of downside risk.
Both the BTC and ETH block trades were dominated by put buying and more than half of the block trades, $13 million and $88 million respectively, totaling $100 million.
And with the largest trades being deeper OTM options of P1,600 and P37,000 at the end of January, respectively, the giant whales are adding to their bearish positions at a time of high market sentiment, and traders need to be wary of downside risk.