BTC, $110,500 Breakthrough repeatedly fails...In the options market, 'Downside bets' spread

As Bitcoin failed to break through 110,500 dollars in three attempts, a bearish sentiment is spreading in the market. Adam, a macro researcher at the cryptocurrency options analysis platform Greeks.live, revealed on the 12th (local time) via X (formerly Twitter) that "Bears view BTC as having turned into a downtrend, and this is clearly reflected in the options market."

He reported, "There is a strong influx of buying interest in the 102,000 dollars strike products among put options expiring at the end of June, and some traders are convinced Bitcoin will fall to 105,000 dollars within 13 days."

On the other hand, bulls still maintain the expectation that BTC could rise to 145,000 dollars, but in the short term, the failure to break technical resistance levels is evaluated as restricting the market's direction.

With the persistent failure to break resistance along with strengthened downside betting in the options market, caution about the potential for short-term correction is increasing. The market is closely watching the price trends over the coming days.