• Options traders have been caught off guard by Bitcoin’s recent surge in March.
• The Fear and Greed Index shows a high level of greed in the market.
• Bears Profit $60M as BTC Trades Between $27-28K on April 7 expiry.

$1.2B BTC Options Expiry

Options traders were taken aback by Bitcoin’s remarkable 43% surge between March 10 and 20, leading to an open interest of $1.12 billion set to expire on April 7. Of that, only 14% was placed at $28,000 or above, missing out on an opportunity for inflation protection due to overly large bets being placed on higher prices.

Bulls Concentrated Bets Above $29K

The 1.85 call-to-put ratio reflects the disparity in open interest between the $720 million call (buy) options and the $390 million put (sell) options that were placed on April 7. At 8:00 am UTC, Bitcoin’s price remained at $27,800 resulting in a net profit for bears of $60 million since there were 1,200 calls versus 3,500 puts between $27,000 and 28,000 expiring worthless.

Fear & Greed Index Show High Level of Greed

Analysts attribute this spike in value partly to increased demand for commodities as investors perceive risks in central banks‘ emergency funding programs causing liquidity injection and fears of inflationary pressure becoming more pronounced with evidence suggesting investors are hedging their bets accordingly with cryptocurrency investments such as Bitcoin leading to a high level of greed according to The Fear & Greed Index.

Increased Selling Pressure In Crypto Market

Technical analysis suggests increased selling pressure has started taking effect across the crypto market as evidenced by bearish trading behavior further driving down the price eventually leading to many bullish bets expiring worthless with no one able to benefit from them which is why it is important not place excessively large bets when investing in cryptocurrencies such as Bitcoin due to its highly volatile nature.


In conclusion it can be seen that even though profits could be made through investment in cryptocurrency such as Bitcoin during times of high demand for commodities such as now due to investor’s fear of inflation from central banks’ emergency funding programs it is important not place excessively large bets when investing due its volatile nature increasing selling pressure across the crypto market making bearish bets more profitable than ever before resulting in bullsmiss out on lucrative opportunities like these despite having initially benefitted from them

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