DL News reported that option traders are preparing for a decline by aggressively hedging and buying long-term put options ahead of tomorrow's Bitcoin options expiration. Nathan Batchelor, managing partner at cryptocurrency trading data platform Biyond, said, "Our analysis of option positions shows that traders are not fully confident in BTC's current rally past $75,000. If BTC maintains its current range until Friday, there could be an attempt to recover $80,000, driven by the concentrated call option volume in that range. However, aggressive hedging movements persist." Antoine Lours, head of options at cryptocurrency market maker Keyrock, also stated, "Traders show the largest exposure around $80,000, and there seems to be more anticipation of BTC settling at $80,000 than a decline. However, demand for put options is higher for options expiring in May, June, and December. This indicates skepticism about a long-term rally."
