Bloomberg: the options market signals a “crypto winter”

Bloomberg analysts say there is a strong shift toward $BTC options expiring in December. This shows that many traders are focusing on short-term moves, expecting the price to stay in a range and betting on low volatility (meaning they don’t expect big price changes right now).

According to Wintermute strategist Jasper de Maere, the market expects “stability for now”, but thinks big moves could come later.

Other bearish signs:

In the last five weeks, more than $2.7 billion has been withdrawn from the iShares Bitcoin Trust.

BTC’s yearly performance is below the S&P 500 for the first time in over 10 years.

Perpetual futures show negative funding rates, meaning there are more short positions.