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Recently, the open interest data in the Bitcoin options market has been quite interesting—contracts with a strike price of $100,000 expiring on January 30th show a significant concentration of open positions at this level. This volume is more than twice that of the $80,000 put options expiring on the same day, indicating that the market's attention to this price level is quite high.
What does this reflect? According to data from a compliant trading platform's derivatives department, traders' sentiment is indeed shifting. There are voices in the OTC trading circles saying that although put option premiums still exist, they have softened considerably—no longer as pessimistic as before. This suggests that the market is beginning to ease concerns about extreme declines.
Compared to the situation at the end of last year, the difference is quite significant. Back then, the spot market was in a frenzy of selling, and the cost of protection via put options was prohibitively expensive. Now, the overall atmosphere is noticeably different, with investors' mindset gradually shifting from panic to watchfulness.
An executive from a trading platform directly stated that retesting the $100,000 to $106,000 range is possible. Although no one can say exactly how high it will go, the layout of the options market suggests that traders are preparing for this rebound. This signal is definitely worth paying attention to.