2026-01-20 13:32:20

The options market is flashing an interesting signal. Even as crypto prices climb higher, traders are increasingly positioning themselves for potential downside. Data from options exchanges shows growing hedging activity—puts are being accumulated at a pace that suggests many market participants aren't fully buying into this rally.

It's a classic divergence: bulls pushing prices up while bears quietly building protection underneath. The volume in downside hedges has picked up noticeably, signaling traders are either taking profits on gains or preparing for volatility ahead. Some are calling it a smart move given how quickly sentiment can shift in this market. Whether it's a genuine warning signal or just standard risk management remains to be seen, but one thing's clear—not everyone's convinced this climb is smooth sailing.

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PumpAnalyst

· 14h ago

Cautiousness is warranted, but this wave of put orders has indeed piled up quite aggressively... The market makers are again setting traps to make retail investors miss out. --- The daily support level is still fluctuating above, and the technical indicators have long diverged. Be careful of being cut. --- I'm not trying to discourage, but this kind of hedging accumulation is too obvious, a typical market maker's shakeout tactic. Those rushing in will just get caught. --- Interesting, the price is rising while puts are piling up, which is a signal that institutions are secretly running away... --- Good risk control awareness, but the problem is retail investors can't see these data at all, resulting in chasing highs and getting trapped. --- If the support level breaks, the outlook must be revised. Currently, this rebound is a false signal; be cautious when entering. --- The surge in put volume is indeed frightening, indicating that smart money is shorting, while retail investors are still dreaming. --- This is called swing trading: eat a few bites when it rises and then immediately run. Only fools hold on to the bottom.

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On-ChainDiver