Analysis: Bitcoin options sentiment has turned bearish, and the market's expectation of a drop below the $80,000 mark has increased.

With continued outflows from Bitcoin ETFs, the Bitcoin options market is showing clear bearish signals, with the probability of BTC falling below $80,000 increasing. In the derivatives market, the Bitcoin options delta skew index rose to 17%, a new high in over a year, significantly higher than the typical 6% level in a neutral market, reflecting extreme risk aversion. Furthermore, total open interest in Bitcoin futures has fallen to $46 billion, a significant decrease from the $58 billion high three months ago, indicating that excessive leverage is being gradually cleared. Overall, the Bitcoin derivatives market sentiment is cautious. Analysts believe that whether Bitcoin can regain its position above $87,000 may depend on whether market risk appetite can recover after macroeconomic uncertainties ease. (Cointelegraph)