Bitcoin
The options flow to the leading decentralized onchain platform that stems.xyz shows that dealers are preparing for volatility in the price in the next few weeks.
From Monday, 20% of the total BTC options of the platform open interest rates, which were valued at over $ 54 million, were concentrated in July 11th outlet opportunities with strikes to $ 85,000, $ 100,000 and $ 106,000, according to data shared by Sering.
“This suggests that dealers are placing for potential disadvantage, possibly stiffening for macroic certainty or profits after the recent strength,” Nick Forster told the founder of Decre to Coindesk.
A PUT setting gives the holder the right to sell the underlying asset, such as BTC, at a predetermined price of or before a specified future date. A PUT buyer is implicit Bearish on the market that seeks to uncover or take advantage of a potential decrease in the underlying asset price. Open interest rates refer to the dollar value of the number of active options contracts at a given time.
Forster added that put options accounted for over 70% of trading volume in the last 24 hours, a sign that “BTC dealers are on the defense.”
The Bearish Flow contradicts the activity of the centralized crypto options Giant -Disseminated, where dealers gave up the July outflow options while they bought back on their heads or call options. The adjustment happened when BTC’s price rose over 7% last week and marked a strong rejection from $ 100,000 levels.
“We observe the dumping of no longer required $ 100,000 and above put in July and withdrawal (blue) of $ 108,000- $ 115,000 plus calls. With a quieter environment and the upcoming July 4th US Long Weekend, more stock was sold to dealers, “Deribit noted on X.
DEX -Sercise optimistic with regard to ETH
Dealers at picked up leaned bullish on ether, with approx. 30% of the open interest rate concentrated in $ 2,900 strike call options and an additional 10% in the $ 3,200 call.
“This positioning seems to be driven by the expectation of ETHCC in Cannes – an important event that is historically associated with product messages and ecosystem growth. Traders obviously expect catalysts that can drive upward momentum,” noted Forster.
