A Bitcoin (BTC) bet crossed the tape in Deceds when the first quarter came to an end on Monday, revealing a merchant’s bearish feeling behind the movement.
The so -called block trade contained a premium of more than $ 1 million for 1,180 contracts of the sale option of $ 70,000 that expired on April 25, according to data tracked by Amberdata.
A sales option gives the buyer the right, but not the obligation, to sell the underlying asset at a predetermined price at a later date. A Put buyer is essentially bassist in the market, in this case, anticipating a price drop at less than $ 70,000 from the current $ 84,000.
A block trade is a large and negotiated private transaction executed outside the public market, usually by institutions, to avoid affecting the market rate in progress.
Other notable operations included a proportion of PUT proportion, with long positions in the $ 75,000 strike, and short double positions in the $ 70,000 put; And a risk reversion, which implies a long position in the $ 90,000 call and a short position in the $ 70,000 put, as noted by the founder of Pelion Capital, Tony Stewart.
The bearish flow in the $ 70,000 position remains at the purchases of sale options that expire on April 4 in the range of $ 78,000 to $ 85,000 last week and a greater demand for the sale option of $ 76,000 that expired on April 25.
In general terms, BTC Puts is quoted with a premium to the calls, exhibiting a downward feeling at the expiration of May, as evidenced by negative values in risk reversions.
The bias to publish that offers downward protection probably reflects the anxiety for the investors surrounding the announcement of reciprocal rates of President Donald Trump on Wednesday. An aggressive movement could weigh on risk assets, including cryptocurrencies.
