Bitcoin Options $100,000 Imbalance: Which Direction Are Investors Looking?

According to Glassnode data, the Bitcoin (BTC) options contracts expiring on January 31, 2025 reveal that investors are uncertain about price movements.

The $100,000 level presents a balanced outlook in terms of buying and selling options, while drawing attention to strong downside protection for prices below this level.

At the price level of $100,000, 2,152 BTC put options correspond to 2,645 BTC call options. This indicates that investors are exhibiting a more neutral stance at this key psychological level. However, when prices fall below $100,000, the number of put options significantly increases compared to call options.

For example, at the 90,000 dollar level, 2,070 BTC put option is only compared with 949 BTC call option. Similarly, at 80,000 dollars, 1,425 BTC put option corresponds to only 255 BTC call option. This situation shows that investors perceive these levels as support levels and are seeking protection in case prices fall to these points.

However, at levels of $105,000 and above, investors are more inclined towards call options. At $105,000, there are 2,484 BTC call options compared to 734 BTC put options, and at $110,000, there are 5,355 BTC call options compared to 392 BTC put options. These data indicate that there is a strong investor expectation for price increases, but also a focus on hedging strategies against downside risks at specific levels.