TechFlow reported, citing Adam, a macro researcher at Greeks.live, who posted on X that Bitcoin's continuous decline has triggered a significant downturn across the entire market, spreading panic sentiment and reducing futures premium levels.
However, in the options market, put options trading volume is minimal. Today’s dominant trades are all call options. Particularly for ETH, call options accounted for 90% of total trading volume today—an extremely rare and exceptional proportion. Moreover, the trades are widely distributed across various key strike prices and expiration dates this month, scattered throughout the order book rather than executed via large block trades. This suggests positioning aimed at volatility around the upcoming halving event.
