Bitcoin News Today: Bitcoin options signal caution with 90% put-to-call ratio amid $110k support test

Bitcoin options data has shown a noticeable shift toward caution among traders, with increased demand for downside protection but no clear bearish bias in futures positioning. The put-to-call ratio for Bitcoin options at Deribit has risen to 90%, a significant deviation from the typical 50% put-to-call imbalance in a bullish market. This suggests growing interest in neutral-to-bearish strategies, particularly as the 30-day options skew (put-call) hit a four-month high of +7%, indicating traders are paying a premium to hedge against potential price drops [1].

Despite this, the Bitcoin futures annualized premium remains within the neutral 5%–10% range at around 7%, showing that institutional traders are not aggressively betting on a price crash [1]. The recent retest of the $112,000 support level has not triggered a sustained breakdown, and the 2-month futures premium remains stable even amid heightened volatility [1]. This implies that while traders are preparing for potential downside shocks, they are not signaling a strong conviction in a significant drop to $110,000.

The broader market environment has influenced this cautious approach. Global economic uncertainty, including concerns around trade tariffs and reduced earnings from major corporations, has driven increased demand for hedging rather than outright shorting. Caterpillar, Saudi Aramco, and other large firms have revised earnings forecasts downward, reflecting the broader macroeconomic pressures influencing risk appetite [1]. At the same time, U.S. 10-year Treasury yields have dipped to 4.21%, signaling a shift toward risk-averse behavior as investors seek the safety of government bonds [1].

While the elevated put demand may appear bearish, it is not necessarily an indicator of a market crash. Instead, it reflects the growing use of options to manage exposure during times of macroeconomic uncertainty. This is particularly relevant for Bitcoin, which has historically shown strong correlations with risk-off sentiment [1]. Analysts have noted that the $110,000 level is a key psychological and technical threshold, and a break below could invite renewed selling pressure, potentially pushing the price toward $103,000 [2]. However, maintaining above $112,000 could provide a springboard for a bullish recovery.

Technical indicators suggest that Bitcoin has consolidated around the $114,168 level, with a 4% pullback over the past week. A break above the critical $116,800 resistance level could trigger a new buying wave, potentially pushing the price toward $119,500 [2]. The Bitcoin Fear & Greed Index has also shifted from “Extreme Greed” to a more neutral reading of around 50, signaling that speculative fervor is cooling and potentially setting the stage for a more sustainable rally [2].

Market participants are closely watching for signs of institutional accumulation, with some ETF inflows and increased trading volume pointing to growing institutional interest. Analysts such as Michaël van de Poppe and Ash Crypto highlight the importance of the $116,800 level in confirming a bullish breakout, while also cautioning against a final sweep below current support levels [3].

Looking ahead, some traders are optimistic about Bitcoin reaching $124,000 by year-end, driven by expectations of a September interest rate cut [4]. However, these are analyst forecasts and not actual market movements. The immediate focus remains on near-term price action around the $110,000–$112,000 range, which continues to serve as a key psychological and technical anchor.

As Bitcoin consolidates and tests these critical levels, the coming weeks will likely determine whether the current bullish setup holds or if the market will face a new phase of volatility and correction.

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Source:

[1] https://cointelegraph.com/news/bitcoin-btc-options-point-to-growing-caution-110k-ahead

[2] https://bitzuma.com/news/bitcoin-price-under-pressure-110k-key/

[3] https://coinedition.com/bitcoin-price-analysis-support-resistance-august-2025/

[4] https://www.ainvest.com/news/bitcoin-news-today-bitcoin-eyes-124-000-september-rate-cut-odds-hit-87-2508/