CoinDesk analyzed that while Bitcoin is showing an upward trend, surpassing the $77,000 mark, institutional investors are taking cautious steps to prepare for a decline. The media explained, "Bitcoin rose 1.7% from 24 hours ago, approaching $77,500. Trading volume also exceeded the average, maintaining a solid trend. However, in the derivatives market, open interest for $76,000 put options expiring at the end of June surged by 22.5%, indicating a clear demand for downside protection at the current price level." It added, "Last week, approximately $770 million worth of Bitcoin was deposited into exchanges, a preliminary step for selling, raising concerns about future selling pressure. Market experts emphasized that since Bitcoin is sensitive to macroeconomic variables, maintaining the key technical support level of $76,200 is crucial."
