BTC and ETH bulk trading is mainly focused on actively buying put options, with whales increasing their positions in bearish bets

According to @BTC__options, BTC has been hovering around $44,000 at a high level, but there have been different signals in the options market. In bulk transactions of BTC and ETH, buying put options is dominant and accounts for more than half of the total transaction volume. The amounts are $13 million and $88 million respectively, totaling $100 million. The largest transactions were deep out-of-the-money options with strikes at 1600P and 37000P at the end of January. This indicates that whales are increasing their bearish positions during periods of high market sentiment, so investors should be cautious about downside risks.