Can Bitcoin Revisit $97,600? Let’s Talk About What ₿ $BTC BTC Traders Are Actually Doing
A lot of you probably felt it last week- ₿ $BTC ripped toward $97,600 and suddenly everything looked bullish again. Calls were getting bought, momentum picked up, and it felt like the market was ready to run.
But here’s the part worth slowing down for.
Glassnode dug into the options data and found that most of that bullish action was very short-term. The 1-week skew flipped fast as BTC jumped about 8%, which usually looks like confidence coming back. The catch? That confidence didn’t extend much further.
When you look out to one-month and three-month options, traders were still paying for downside protection. In simple terms, people traded the bounce - but they didn’t bet on a real breakout yet. Volatility was even being sold as price moved higher.
So if you’re watching for BTC to revisit $97,600, don’t just watch the candles. Watch whether longer-dated options start pricing upside and volatility gets bid. That’s usually when moves stop being tactical - and start becoming real.