Analysis: Bitcoin options sentiment turns bearish, and market expects an increased probability of breaking below the $80,000 threshold

Odaily Planet Daily reports that as the spot Bitcoin ETF funds continue to flow out, the Bitcoin options market is signaling a clear bearish outlook, and the market’s probability of BTC falling below USD has increased. In the derivatives market, the Bitcoin options delta skew indicator once rose to 17%, reaching a new high in over a year, significantly above the typical level of no more than 6% in neutral markets, reflecting extreme risk aversion sentiment. Additionally, the total open interest in Bitcoin futures has fallen to @E5@ billion USD, a notable decrease from the high of billion USD three months ago, indicating that excessive leverage is being gradually unwound. Overall, the Bitcoin derivatives market sentiment is cautious, and analysts believe that whether Bitcoin can retake the level of USD may depend on whether market risk appetite can rebound after macroeconomic uncertainties ease. (Cointelegraph)