BTC options traders hedge aggressively, showing doubt over $80K rally

Options traders are aggressively hedging and buying long-term put options to prepare for a potential downturn ahead of tomorrow's Bitcoin options expiration, DL News reported. Nathan Batchelor, managing partner at crypto trading data platform Biyond, said that an analysis of options positions shows traders are not fully confident in BTC's recent move above $75,000. He noted that if BTC maintains its current range until Friday, a high concentration of call options could trigger an attempt to reclaim $80,000, but added that aggressive hedging movements remain. Similarly, Antoine Lours, head of options at crypto market maker Keyrock, stated that while traders have their largest exposure around the $80,000 mark and seem to anticipate the price settling there rather than declining, there is higher demand for put options with May, June, and December expirations. This suggests skepticism about a long-term rally, he explained.