Crypto traders are preparing for potential price drops in Bitcoin (BTC) and Ethereum (ETH) in August, with option data from Direve.xyz who show a clear tilt to Bearish positioning.
Bitcoin Bearish sentiment
According to data shared with CryptoSlateOpen interest in Bitcoin put options with an expiration date of 29 August is almost five times higher than call options.
Investors usually buy on -call options when they expect the price of the asset to rise. Conversely, they buy well options when they anticipate a decrease in the value of the asset.
In particular, around 50% of the well activity of that distraction is focused around the $ 95,000 strike, while another 25% is divided between $ 80,000 and $ 100,000.
Further confirmation comes from facts Van Deribit, a leading centralized derivatives fair, with the options for strike prices of $ 110,000 and $ 95,000 good for more than $ 2.8 billion in open interest.
This suggests that traders are increasingly betting on a movement under the six -digit brand.
Moreover, options is skew, a measure that compares the costs of Putten with calls, has shifted from +2% to -2% in the past month, which reflects a growing appetite for downward protection.
This shift in sentiment corresponds to probability models that revise a 18% chance on BTC before the end of the month $ 100,000.
Ethereum -Volatility is increasing
Ethereum also experiences an increase in the bearish sentiment, although to a lesser extent than Bitcoin.
Data issued show that for the expiration date of 29 August, options in the number of calls with just over 10%in the number of calls.
The highest concentration of PUT activity is around $ 3,200, $ 3,000 and $ 2,200 strike levels, which suggests that traders have braced for everything, from mild decreases to more significant valleys in the price of Ethereum.
Moreover, the 30 -day skew from ETH has fallen from +6% to -2%, which suggests a similar pattern of growing interest in downward protection.
In the meantime, the monthly volatility of Ethereum remains higher, with an expected volatility of 65%, compared to 35%of Bitcoin. This suggests that Ethereum could experience a bumpy ride in the coming weeks than Bitcoin.
In view of this, crypto traders have placed a 25% chance on ETH on distraction that will fall below $ 3,000 this month. With recent price rebounds, however, the chance of a close one over $ 4,000 has doubled to 30%last week.