Bitcoin rebounds to nearly $68,500, sparking optimism on social media, but options data shows the market remains cautious. Sidrah Fariq from Deribit pointed out that although there has been some bullish options buying, the proportion of downside options remains high, with the open interest in $60,000 put options reaching the largest at $1.48 billion. Traders' positions indicate that Bitcoin's price may fluctuate between $60,000 and $70,000. The broader cryptocurrency market outperformed Bitcoin, with the CoinDesk 20 Index rising 5.8%.