$BTC $ETH Cryptocurrency traders are preparing for a potential drop in the price of Bitcoin (BTC) and Ethereum (ETH) in August, according to options market data, which shows a clear dominance of bearish trading positions. This shift in market sentiment indicates that investors are increasingly opening trading positions at lower prices.

According to data from the Derive platform, in Bitcoin options contracts expiring on August 29, the volume of open positions in put options is nearly five times that of call options. This means that most traders expect a decline in the price of Bitcoin. The largest volume of these short positions is concentrated at a strike price of $95,000. Data from the Deribit exchange also confirms this trend, with the value of open short positions exceeding $2.8 billion at strike prices of $110,000 and $95,000.

A downward trend is also observed for Ethereum, albeit to a lesser extent. In Ethereum contracts, the number of put options exceeds call options by only 10%. The largest concentration of put options is at strike prices of $3,200, $3,000, and $2,200. However, the expected volatility for Ethereum this month is estimated at 65%, which is significantly higher than the 35% volatility for Bitcoin, indicating more volatile weeks for the cryptocurrency.#BTCUnbound #Succinct