Analysis: Bitcoin market sentiment turns cautious, BlackRock ETF IBIT call options bets decrease

ChainCatcher news, according to CoinDesk, Bitcoin entered a consolidation phase after reaching an all-time high of $110,000 in May. Market data shows that the put/call skew of BlackRock's spot Bitcoin ETF (IBIT) has rebounded from -3.8 two weeks ago to nearly zero, indicating that traders' expectations for continued upward movement have weakened.

Data from the derivatives platform Deribit shows that the premium advantage of short-term call options has disappeared, with the prices of call and put options expiring in the next two weeks tending to level out. As of the time of writing, Bitcoin is quoted at $108,860.