Crypto Bulls Eye $99K as Market Shifts to Risk Management

The cryptocurrency market is currently displaying a cautiously bullish sentiment, with investors closely monitoring the key resistance level at $99,000. Despite some community members anticipating a price increase in March, the recent hack incident and low volatility environment have shifted the focus towards protecting against downside risks.

Option skewness has normalized following recent events, with a significant decrease in put options trading volume and a substantial repricing of at-the-money options. This indicates a price increase of 40-80% compared to the previous day. Traders are actively discussing hedging strategies for March, suggesting a balance between risk protection and maintaining a bullish exposure.