Bitcoin traders price 53% chance of sub-$66K BTC by
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- Bitcoin options traders are increasingly bearish, with a 53% implied probability that BTC will stay below $66,000 by April 24, reflecting a lack of confidence in the $66,000 support level.
- David Sacks' exit as the Trump administration's crypto and AI czar, following earlier comments that inflated investor expectations about a US Bitcoin Strategic Reserve, has added to market uncertainty.
- Rising US inflation threats, driven by surging oil prices and increased military spending, are pushing investors into risk-averse mode, impacting both traditional markets and Bitcoin's performance.
- The Bitcoin options delta skew has jumped to 15%, indicating a significant premium for put options over call options and signaling a strong lack of conviction among whales that the $66,000 level will hold.
- Friday's monthly options expiry heavily favored neutral-to-bearish strategies, with 97% of call options becoming void and bears gaining the upper hand as put options at $69,000 or higher surpassed $2 billion in open interest.
Why it matters: Bearish sentiment is gripping Bitcoin, signaling potential further declines amid economic and political uncertainty.
