Traders are seeing a surge in put options for Bitcoin and Ethereum, indicating protective measures against potential price drops, particularly following last Friday’s margin calls.
The volatility sparked by these margin calls has raised pessimism in the market. Significant put options for Bitcoin are being bought at $115,000 and $95,000 strike prices.
Analysts state that Bitcoin must navigate crucial resistance levels to achieve new highs, as bearish sentiments continue to shape trading strategies in the market.
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