BTC Options Traders Proved Right? Price Tests $82.5k Support
The post BTC Options Traders Proved Right? Price Tests $82.5k Support appeared on BitcoinEthereumNews.com.
Bitcoin slips to ~$82.5k, testing lower range support after options expiry Options data had signaled caution (put premium, P/C >1) before the price dip Hash Ribbon ‘buy’ signal met immediate dip; BTC now below EMA resistance Bitcoin (BTC) slipped towards $82,550 late Friday, testing the lower end of its recent $80,000-$87,000 range and trading 0.65% for over 24 hours. This move lower occurred despite a historically bullish indicator flashing earlier, while options market data continues to reflect trader caution under the shadow of new US tariffs. Recent options market activity presaged the current weakness. Blockchain analysis platform Glassnode had reported put options trading at a premium, indicating heightened demand for downside protection. Analysis of Options Data The trend is particularly strong in short-term maturities, reflecting a level of fear not seen since Bitcoin was in the $20,000 range in mid-2023. This suggests that traders are hedging against potential downside risks, which could translate into short-term selling pressure. Related: Arthur Hayes Says He ‘Loves Tariffs,’ Explains Why They Are Good for BTC Additionally, journalist Colin Wu reported that 26,000 BTC options expired on April 4 with a put-call ratio of 1.24 (signaling bearish bias) and a max pain point around $84,000. With BTC now trading below that max pain level, post-expiry price dynamics could remain volatile. Hash Ribbon Buy Signal Followed by Price Dip Adding complexity, analyst Ted recently highlighted that Bitcoin’s hash ribbon indicator flashed a buy signal. Bitcoin hash ribbon indicator has just flashed a buy signal. Last 3 times this indicator flashed a buy the signal $BTC pumped to hit a new ATH. Will history repeat itself again? pic.twitter.com/27wgCFTLft — Ted (@TedPillows) April 3, 2025 While this mining-related signal has historically often preceded strong rallies, the subsequent price dip towards $82,550 puts its immediate predictive power into question…
Filed under: News - @ April 4, 2025 4:24 pm