I don't see the BTC bear cycle as complete, so I won't be fooled by a potential relief rally, but the market loves to send regrets to bottom sellers and "sure-footed" short positions.
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Wall Street Bets Against Bitcoin As Price Nears Two-Year Low
Bets against Bitcoin are piling up on Wall Street as the cryptocurrency’s price sinks near a two-year low.
Options traded on the iShares Bitcoin Trust ETF IBIT, the largest BTC exchange-traded fund, totaled 1.1 million contracts on June 25, double the average of the past 30 days.
Put options more than doubled call options as traders on Wall Street continue to bet that Bitcoin’s price has further to fall.
Traders are also betting that the leading Bitcoin ETF will decline another 10% by July 31.
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