Derive data shows that the Bitcoin and Ethereum August options market has shown a bearish tendency.

robot
Abstract generation in progress

PANews August 6 news, according to The Block, Derive data shows that with the Fed's decision to keep interest rates unchanged in July, market sentiment has turned cautious, and traders are significantly leaning towards bearish positions in the Bitcoin and Ethereum options expiring in August, with demand concentrated on put options. Sean Dawson, head of research at Derive, stated that the open interest for Ethereum put options expiring on August 29 has exceeded that of call options by more than 10%, primarily concentrated at strike prices of $3200, $3000, and $2200. The bearish sentiment for Bitcoin is even more pronounced, with the open interest for put options expiring on August 29 being nearly five times that of call options, mainly concentrated at strike prices of $95000, $80000, and $100000, indicating that traders are generally betting that Bitcoin will fall below $100000. Derive expects a 25% probability that Ethereum will drop below $3000 by the end of August, and an 18% probability that Bitcoin will fall back below $100000.

DRV-2.11%
BTC0.76%
ETH2.45%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Share
Comment
0/400
GunaraDarkGod666vip
· 23h ago
Steadfast HODL💎
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)