BlockBeats news, on August 5, according to CoinDesk, concerns about the economy, including rising inflation and disappointing employment data, have led to a recent drop in Bitcoin prices. Meanwhile, as options market indicators show a shift in market sentiment, the long-term bullish sentiment for Bitcoin has turned neutral.
Griffin Ardern, head of options trading and research at the crypto finance platform BloFin, said, "I have noticed a rather concerning sign of recent market pullbacks. The bullish sentiment for Bitcoin's long-term options has disappeared, and currently holds a neutral stance, which means the options market believes BTC is unlikely to establish a long-term upward trend, and the likelihood of reaching new highs in the coming months is decreasing. A similar situation last occurred in January and February 2022."
