Bitcoin Traders Brace for Pre-Halving Weakness Before Anticipated Rally
• Bitcoin options market shows expectations for pre-halving price weakness followed by a post-halving rally. Highest put open interest is in options expiring just before halving event.
• Longer-term outlook depends more on macro factors like interest rates and economy rather than just the halving itself, according to analysts.
• Options expiring after May are more affected by broader macro environment and organic demand than halving.
• Huge open interest in $100K December calls and $200K March 2025 calls signals expectations for tailwinds to push bitcoin price to 6 figures.
• Temporary pre-halving nervousness is in line with analyst views of potential price wobbles around halving time.