Bitcoin’s price resilience near $108,000 is met with rising demand for put options and miner BTC deposits, signaling caution among traders. The options delta skew climbed above 10%, showing bearish sentiment, as traders grow doubtful about Bitcoin’s momentum. Trump’s trade war with China and economic uncertainty add pressure, impacting market sentiment.

Demand for downside protection strategies surges as put options exceed call options by 50% on Deribit. Gold hits a new all-time high, while US 2-year Treasury yields drop to their lowest in three years. Despite positive tech sector developments, the S&P 500 falls 0.9%, reflecting investors’ shift in sentiment towards safer assets.

Miners deposit 51,000 BTC on exchanges, marking the largest outflow since July, raising concern for potential price weakness. Bitwise analysts view the correction as a “contrarian buying window,” noting that extreme drops in sentiment often precede rebounds. The surge in put options demand reflects caution, but may not signal sustained bearish momentum.

Read more at CoinTelegraph: Bitcoin Options Shift As Traders Watch BTC Turn Bearish