Over the past week, activity in the cryptocurrency market has slightly decreased after sharp upward movements. Bitcoin traded in a narrow range, and traders began to hedge risks through options. The main strategy became the purchase of June put options at $95,000 while simultaneously selling call contracts at $125,000. This allowed market participants to hedge against declines without additional costs.
In addition, call options with a value of $120,000 were sold. This indicates expectations that there will be no strong growth in the near future for $BTC . These transactions occurred when the price fell below $102,000. Against the backdrop of declining activity, volatility (IV) also went down.
The situation in the Ethereum market looks different. Investors continue to actively buy call spreads in anticipation of price growth by the end of the year. Large transactions were recorded for December: spreads were purchased at $3200 - $6000 and $3500 - $6000 for 15,000 contracts. The total cost of premiums amounted to about $7.25 million.
Additionally, data on over-the-counter (OTC) transactions is coming in, which also indicates positive expectations for the ETH rate by the end of the year. Market participants believe that the current growth may continue, especially considering the sustained interest in options with long expiration dates.
After the sharp increase in the value of $ETH from $1800 to $2600, demand for short-term contracts also increased, but then it slightly decreased. At the same time, interest in December options remains high, indicating long-term confidence among investors in further positive dynamics.
According to Deribit analysts, the last week went calmly. At the same time, the behavior of investors in the derivatives market shows: for BTC, participants are taking profits and hedging risks, while for ETH, they continue to make large bets on growth.
