Everyone Started Expecting a Plummet in Bitcoin: They Are Targeting These Prices! - Coin Bulletin

A large sell option transaction worth 1 million dollars for Bitcoin (BTC) reflects investors' expectations of price drops.

At the end of the last quarter, a large Bitcoin options transaction executed on the Deribit exchange indicated that a bearish sentiment prevailed in the market. This transaction for 70,000 dollar sell options expiring on April 25 was executed with a premium of 1.18 million dollars. This transaction strengthens the expectation that the Bitcoin price will fall from the current levels of (84.000 dollars) to 70,000 dollars.

Sell options give the buyer the right to sell an asset at a specific price level up until a certain date, with the buyer anticipating that the market will get dumped. Such transactions indicate that investors are worried about potential economic impacts, particularly concerning possible customs tariff announcements from the U.S. Following option trades that took place between 78,000 and 85,000 dollars last week, demand for sell options at 76,000 dollars also increased.

Sell options and market concerns

The higher trading volume of BTC options in the sell direction compared to buy options indicates a general expectation of price drops in the market. This situation particularly reflects investors' concerns about the customs tariff announcements expected to take place next week and their possible effects on cryptocurrencies.