{"id":20215,"date":"2025-04-02T12:47:02","date_gmt":"2025-04-02T12:47:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20215"},"modified":"2025-04-02T12:47:02","modified_gmt":"2025-04-02T12:47:02","slug":"sentiment-shift-in-bitcoin-as-80k-put-emerges-as-most-popular-bet","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20215","title":{"rendered":"Sentiment Shift in Bitcoin as $80K Put Emerges as Most Popular Bet"},"content":{"rendered":"
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Need evidence of the drastic change in the crypto market sentiment lately? Look no further than Deribit’s options market, where the $80,000 bitcoin (BTC) put option, offering downside protection below the said level, is now the most popular bet.<\/p>\n

It’s a 180-degree change from early this year when call options at six-figure levels garnered the most interest among traders.<\/p>\n

As of writing, the number of open positions in the $80,000 put option tallied 10,278 contracts, equating to a notional open interest of $864.26 million, according to data source Amberdata. That makes it the most popular options play on Deribit, where one contract represents one BTC.<\/p>\n

It also marks a significant positioning shift from early January when the call option at the $120,000 strike<\/a> was the most popular bet with an open interest of nearly $1.5 billion. Last month, the $100,000 call took the crown<\/a>.<\/p>\n

The positioning shift indicates traders have reassessed upside expectations amid the market swoon and lingering economic uncertainty. BTC fell 11.66% in the first quarter, with prices slipping below $80,000 at one point as President Donald Trump’s tariffs shook Wall Street. Additionally, disappointment over the lack of fresh purchases in the U.S. strategic reserve weighed over prices.<\/p>\n

Later Wednesday, Trump is expected to announce sweeping reciprocal tariffs on its trading partners, which could lead to a full-blown trade war. That has BTC traders chasing downside protection<\/a>.<\/p>\n

“BTC volatility smiles have shifted sharply towards OTM puts, reaching levels not seen since the US Banking Crisis in March 2023. ETH’s short-tenor volatility smile skews have partially recovered from their strong tilt toward OTM put,” analytics firm Block Scholes said in its market update Wednesday.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Need evidence of the drastic change in the crypto market sentiment lately? Look no further than Deribit’s options market, where the $80,000 bitcoin (BTC) put option, offering downside protection below the said level, is now the most popular bet. It’s a 180-degree change from early this year when call options at six-figure levels garnered the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20215","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20215"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20215\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}