#btc

According to VanEck's analysis, Bitcoin traders paid a record price for downside protection, with put option premiums reaching a historic high of approximately 4 basis points relative to spot trading volume. This cautious market sentiment, characterized by a high put/call open interest ratio, has historically tended to foreshadow significant price rebounds. Despite weak on-chain transaction activity, the report points out that following similar defensive option positioning over the past six years, Bitcoin has averaged gains of 13% within 90 days and 133% within 360 days.

3.2 Morning Analysis Weekend market liquidity is weak, with prices pulling back from the high of 71077.7. The 1-hour level has broken below the short-term moving average group, with the moving average turning downward to form a bearish alignment. The 70400-70600 zone above constitutes strong resistance. After consecutive large bearish candles, the rebound lacks strength, bearish momentum continues to release, current price is approaching 70100, Bollinger Bands opening downward with a clear downtrend. Operationally, it is recommended to establish short positions on rallies, with short-term targets looking toward below 70000. Weekend volatility may amplify—pay attention to risk management. Operation Suggestion: 70600-71100 SHORT, Target 68600-69100.$BTC $SOL