A large Bitcoin (BTC) options Bet crossed the tape on dismissal when the first quarter ended Monday and revealed the Bearish atmosphere of the trader behind the move.
The so -called block trade completed a prize of more than $ 1 million for 1,180 contracts of $ 70,000 Put Option, which expires April 25, according to data traced by AmberData.
A PUT setting gives the buyer the right, but not the obligation, to sell the underlying asset at a predetermined price at a later date. A put buyer is essentially Bearish on the market, in this case foreseeing a price drop to less than $ 70,000 from the current $ 84,000.
A block trade is a large, privately negotiated transaction carried out outside the public market, typically by institutions, to avoid affecting the ongoing market interest rate.
Other notable trades included a set relationship spread with long positions in $ 75,000 strike put and double short positions in $ 70,000 put; And a risk conversion that involved a long position in the $ 90,000 call and a short position in $ 70,000 -Put, as the Pelion Capital founder Tony Stewart noted.
The Bearish Flow in $ 70,000 Put follows the purchase of Put options that expires April 4 in $ 78,000 to $ 85,000 interval last week and increased the demand for the $ 76,000 option that expires on April 25.
Basically, BTC puts for a prize for calls and exhibits downward mood to the end of May-end, as shown in the negative values in risk transfers.
Bias for puts offering downward protection probably reflects investor anxiety around President Donald Trump’s expected mutual tariff message on Wednesday. An aggressive feature could weigh on risk assets, including cryptocurrencies.
