CandleFocus Crypto Traders Remain Cautious About Downside Risks in Bitcoin, Ether; SOL Stands Out
2024-09-10
Author: Content Editor
Options data and risk reversals suggest a cautious sentiment and a bias towards bearish positions in bitcoin and ether. Traders have turned to put options due to concerns over recession and risk aversion. The market remains cautious about downside risk, with traders expecting bitcoin to drop to $50,000 or even $40,000. The upcoming Federal Reserve interest-rate cut adds to the cautious sentiment. On the other hand, Solana's sol (SOL) is expected to be more resilient and outperform ether in the near term. Options skew for SOL indicates a demand for call options, while ETH exhibits a bias for put options.
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