TechFlow reports that Adam, a researcher at Greeks.Live, said on X that as we return to the workweek, BTC continues to decline and market sentiment remains low.
However, the options market is showing different signals. Today's block trades were primarily focused on selling ETH put options, with 60,000 contracts alone maturing by the end of this month. Judging from the execution prices, large traders who previously shorted are now taking profits.
Meanwhile, the number of large traders actively buying call options has also increased, reaching a level comparable to retail investors selling calls, indicating that institutional players are gradually turning optimistic about the market.
Bitcoin and Ethereum are now at a very delicate juncture, making a sideways consolidation unlikely.
