老郑睡不醒
--
Traders' (institutions) views and predictions on the current market conditions
BTC options OI (30d sma) has reached a new historical high! It has reached a scale of 563,242 BTC. In the last cycle, the derivatives market was mainly dominated by perpetual/futures contracts, and the weight of the options market was not large.
However, this cycle is different; more institutions, while holding BTC spot, will use the unique leverage properties of options for hedging, arbitrage, selling volatility, buying protection, and so on. For example, in the past, risks could only be avoided by selling spot; now, buying puts can achieve the same purpose, which also significantly reduces the selling pressure on the spot market.
Therefore, the direction of the option market premium represents the traders' (especially institutions) predictions and attitudes towards the current market conditions, which is very valuable for reference. Figures 2-3 show the flow of options premiums (net buying/net selling) for the three key strike prices of 85,000, 90,000, and 92,000.
However, this cycle is different; more institutions, while holding BTC spot, will use the unique leverage properties of options for hedging, arbitrage, selling volatility, buying protection, and so on. For example, in the past, risks could only be avoided by selling spot; now, buying puts can achieve the same purpose, which also significantly reduces the selling pressure on the spot market.
Therefore, the direction of the option market premium represents the traders' (especially institutions) predictions and attitudes towards the current market conditions, which is very valuable for reference. Figures 2-3 show the flow of options premiums (net buying/net selling) for the three key strike prices of 85,000, 90,000, and 92,000.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
30
0