On-chain analysis platform Glassnode has highlighted growing panic and insecurity among Bitcoin investors in its latest options market report. According to Glassnode, data indicates that there is no expectation of a strong bottom reversal in the options market—neither in the short term nor in the medium to long term.
The report notes a lack of accumulation, particularly in medium- and long-term call options with a strike price of $120,000. Instead, investors are using even brief market rallies as opportunities to sell these call options, which points to weak long-term optimism.
One striking aspect of the report is the sharp shift in the put-call balance in short-term options (1 week to 1 month), which has moved heavily toward the sell side. Short-term put options now dominate by approximately 11-12%, reflecting heightened market fears for the immediate future.
Glassnode’s analysis reveals that the premium movement on short-term put options with a $100,000 strike price underscores this insecurity. Over just three days, the net premium paid on these options surged from nearly negative levels to over $7 million, indicating that investors are aggressively seeking short-term protection.
The sharp correction following Bitcoin’s all-time high (ATH) on October 31 wiped out many open positions. However, Glassnode data shows that half of these positions were rebuilt within a week, as option open interest is now hitting new record levels ahead of expiration dates.
Additionally, after Bitcoin fell below $107,000, options volume rose sharply and has remained elevated, suggesting intense repositioning is underway in the market.
*This article is for informational purposes only and should not be considered investment advice.*
https://bitcoinethereumnews.com/bitcoin/latest-situation-in-bitcoin-panic-and-uncertainty-prevail-heres-what-the-option-data-reveals/
