DL News reported that option traders are preparing for a downturn by aggressively hedging and buying long-term put options ahead of tomorrow's Bitcoin options expiry. Nathan Batchelor, Managing Partner at cryptocurrency trading data platform Biyond, said, "Analysis of option positions shows that traders are not entirely confident in BTC's current trend, which has surpassed $75,000. If BTC maintains its current range until Friday, there could be an attempt to recover $80,000, depending on the concentrated call option volume in that range. However, aggressive hedging movements persist." Antoine Lours, Head of Options at crypto market maker Keyrock, also stated, "Traders have the largest exposure around $80,000, and there seem to be more expectations for BTC to settle at $80,000 rather than a decline. However, demand for put options is higher in options expiring in May, June, and December. This indicates skepticism about a long-term rally."
