Matrixport: Bitcoin's current trend is mainly driven by holder structure, with short-term correction pressure increasing

Foresight News reported that Matrixport published an analysis showing that, based on the trend of option skew, market demand for bitcoin options has clearly shifted toward put contracts. This structural change indicates that short-term correction pressure has increased, which is related to Trump's proposal to impose a 10%-25% tariff on European goods, thereby increasing macroeconomic uncertainty.

Although risk aversion sentiment has risen, bitcoin's performance has not exhibited the typical characteristics of a safe-haven asset; against the backdrop of institutional investors tightening risk exposure and overall positions becoming more defensive, the price remained largely flat over the weekend and softened slightly on Monday. The current trend is mainly a result of investors engaging in short-term risk management amid heightened external uncertainty. According to on-chain and position data, the pace of long-term capital remains generally stable.