Bitcoin Holds Above $44K But Analysts Warn of Plunge Risks Despite Bullish Sentiment
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Bitcoin price hovered around $44,000 and Ethereum stayed above $2,300 on Friday morning.
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Options data shows whales are adding to their bearish bets even as overall market sentiment remains bullish.
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Analysts point to potential "plunge risks" in crypto with a large number of protective put options being traded.
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There is optimism around a Bitcoin spot ETF approval by January 10, with large-scale positions still building up.
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Analysts warn of a possible sudden drop in prices with low holiday season liquidity, despite positive BTC catalysts ahead like halving.