Bitcoin Options Trading Surges Amid Galaxy Digital's Market Moves
Traders are navigating a volatile Bitcoin market, operating within the $114,000 to $125,000 range, with a key support level at $114,000. Market participants are preparing for both upward and downward scenarios, closely monitoring open interest and funding rates for directional cues.
In the options market, traders are actively selling put options expiring next week at $114,000 and $113,000 strike prices. This activity follows Galaxy Digital's transfer of 17,123 Bitcoin to exchanges, which has heightened market volatility. The Galaxy-Falcon options flow indicates institutional buying of put options ahead of price movements, suggesting coordinated market strategies. Post-expiry adjustments show traders managing short put positions while seeking short-term bullish opportunities as spot prices recover from initial drops.
