- Overview of Bitcoin Options Block Trading
- Ethereum Options Trading Data
- Analysis of On-Chain Data Trends
After a long period of dormancy, Bitcoin options block trading has seen a significant resurgence, clocking notable activity with more than $500 million in notional value. The recent trading activity suggests that traders have turned more cautious despite the Bitcoin price attempting a reversal above $61,000.
Overview of Bitcoin Options Block Trading
Data from Greeks.Live suggests that 3,643 Bitcoin options block calls were traded, representing 24% of the day’s total trading volume. On the other hand, 2,084 BTC block put options accounted for 14%.
Ethereum Options Trading Data
Apart from Bitcoin options, Greeks.Live also reported substantial activity in Ethereum options with 31,430 ETH block call options making up 20% of the day’s trades and 28,488 ETH block put options contributing 18%.
Analysis of On-Chain Data Trends
Furthermore, on-chain data for Bitcoin has been flashing strong bearish signals with more than 80% of short-term Bitcoin holders facing losses at the current price.
In conclusion, despite the current rise in Bitcoin’s price, the trading data and on-chain metrics suggest that bearish sentiments might continue to influence the market.
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