Traders going short on BTC want to keep Bitcoin under $45K. Here's why.
has caused the Chinese government to implement severe restrictions on Shanghai and other major cities and persistent regulatory concerns continue to weigh down th sentiment within the crypto sector.
Bulls might have been fooled by the recent attempt to overtake $48,000 on March 29 and this is shown in their bets for April 8's $610 million options expiry that go all the way to $65,000.A broader view using the 0.97 call-to-put ratio shows balanced bets between the $300 million call open interest stands and the $310 million put options. Now that Bitcoin is back below $45,000, most of these bullish bets will become worthless.
For instance, a trader could have sold a put option, effectively gaining positive exposure to Bitcoin above a specific price but unfortunately, there is not an easy way to estimate this effect.Bears have incentives to suppress Bitcoin price
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