Pro Bitcoin traders' view on BTC’s flash crash to $112.6K: Did anything change?

Pro Bitcoin traders are cautious about holding downside risks despite gains to $114,000, as heightened premiums for put options indicate nervous sentiment. Recent US job openings dropped to near five-year lows, raising recession worries. On the other hand, Bitcoin ETFs saw a $518 million influx, and public companies continue accumulating, suggesting tightening supply. Although Bitcoin options show some volatility, the put-to-call ratio remains stable, indicating no increased bearish demand. As inflation concerns and a weaker dollar persist, the S&P 500 stays resilient amid anticipated rate cuts from the Federal Reserve, creating a less constrained economic environment. While whales and market makers exhibit reluctance toward downside risks, the overall demand reflects broader macroeconomic concerns rather than outright bearishness. The recent inflows into Bitcoin ETFs demonstrate a countenance for Bitcoin as an independent hedge, separate from trends in gold.

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