The cryptocurrency options market signals increasing risks of a Bitcoin decline. According to Deribit, demand for put options with strikes of $115,000–$118,000 has increased, indicating traders' desire to hedge positions ahead of a possible correction. The put/call ratio reached 1.24, reflecting pessimistic sentiment. Open interest in Bitcoin options stands at $43 billion, close to July's peak of $49 billion.
Analysts at QCP Capital note that the market is at a crossroads: U.S. inflation data could either support growth or increase volatility. If inflation exceeds the expected 2.8%, it could slow the rally of risk assets, including $BTC . Additionally, an outflow of $800 million from Bitcoin ETFs and a decrease in spot demand to $220 million add pressure on the price.
In June, traders actively hedged against a drop in BTC to $100,000, and in July, a whale bet $5 million on a decline below $110,000. Such signals indicate investor caution. Keep an eye on the market to not miss key changes!
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