Аналитики Glassnode: биткоин не достиг дна, ожидаются дальнейшие падения Headline: Glassnode Analysts: Bitcoin Hasnt Hit Bottom, Further Declines Expected

Following Bitcoin’s drop below the $94,000 mark earlier this week, traders have begun actively purchasing short-term put options priced at $75,000. This trend was noted by Glassnode.

The prevailing positions in put contracts indicate a market expectation for a decline in prices below the strike level.

«The options market is not currently signaling a bottom and leans towards the risk of a more profound movement,» the analysts from the platform concluded.

The total volume of bets on put options has reached 67.6%. Traders are aggressively hedging against downturns by acquiring longer-term contracts.

The trends in weekly and monthly volatility indices have indicated a state of «extreme panic» on the short-term horizon, the analysts added.

On November 21, Bitcoin fell below $85,000 for the first time since April.

Previously, analyst Axel Adler identified two critical levels for Bitcoin’s current correction based on three key metrics for institutional investors. One was at $87,000, and the other was at $74,000.

Experts from XWIN Research suggested that prices could be «trapped» in the $60,000 to $80,000 range by the end of the year. This scenario would come to fruition if the U.S. Federal Reserve opts not to lower the key interest rate in December.

A trader known as EgyHash believes that a bullish reversal requires increased activity from whale investors.

Metrics from the futures segment have indicated that major players have exited the market in recent months. Now, smaller investors have become involved in this trend, further diminishing the liquidity of the digital gold market, the expert noted.

«If there is not a significant recovery of institutional demand or a return of retail investors, Bitcoin will likely remain under pressure with limited prospects for a strong rebound in the near future,» EgyHash concluded.

Analysts at Swissblock pointed out that the Risk-Off metric in Bitcoin has approached the capitulation zone. Such values corresponded to major price lows over the past two years.

«We are entering the final phase of seller exhaustion. Once the Risk-Off signal hits the minimum, BTC tends to rebound sharply and rapidly,» the experts stated.

It is worth noting that researchers from Bernstein believe that the current correction in Bitcoin is short-term and does not signify the onset of a substantial downtrend.