Bitcoin options traders bet on a $90,000 rebound, analysts say the market is showing initial signs of bottoming out

According to The Block, on-chain derivatives platform Derive's analysis shows that Bitcoin options traders are building positions, betting that the market is bottoming out and is expected to rebound to $90,000. Derive's research director Sean Dawson pointed out that the market is showing signs of stability after several weeks of uncertainty.

Bitcoin volatility has fallen back to the 50% range, which is typically associated with consolidation rather than panic selling. The options sentiment indicator, the 25-delta skew, has significantly rebounded from -15% in late February to around -7%, indicating that traders' defensive sentiment is weakening. Options flow shows that in contracts expiring on March 27, a large accumulation of call options at strike prices of $80,000 and $90,000 suggests that traders expect prices to rise to the $85,000 to $95,000 range. However, put options are still concentrated at $60,000 and $55,000, indicating that the market is maintaining necessary downside protection while being bullish.

Bybit analysts noted that although the $70,000 level still poses resistance, the clarification of macro policies could restore market confidence and give rise to a strong bullish narrative.