PANews reported on April 25 that according to The Block, the Bitcoin options market shows significant bullish sentiment. After 76,709 options contracts with a nominal value of $7.2 billion expired, BTC price stabilized at $94,500, rising 2% from the previous day's low. Data shows that bullish contracts (43,917) far exceed bearish contracts (32,793), with a put/call ratio of 0.73 and a maximum pain point at $86,000. Market analysis indicates that bullish contracts are mainly concentrated at strike prices of $95,000 and $100,000, reflecting investors' optimistic expectations for medium to long-term trends. Bitfinex analysts stated that with the breakthrough of the $90,000 resistance zone, the market is shifting its target to higher prices, with significant open interest accumulated at strike prices of $95,000 and $100,000 for contracts expiring in late April and May. Deribit data shows traders are rolling positions to contracts expiring on May 30 and June 27. Analysts believe that accelerated inflows into spot Bitcoin ETFs this week will be a key factor in supporting the price above $90,000. Despite short-term volatility, the market generally expects Bitcoin to maintain an upward trend in the second quarter of 2025.
Whale CryptoQuant monitoring reveals the largest BTC withdrawal from centralized exchanges since 2023, with the 100-day moving average withdrawal volume reaching a two-year high. Analysts believe this marks the market entering a re-accumulation phase. Glassnode data corroborates this trend, with its "Accumulation Trend Score" showing that large entity buying intensity has returned to levels seen in December 2024 to January 2025. The indicator tracks that "whales continue to accumulate" during recent price increases, effectively buffering potential volatility from options expiration. Bitcoin's implied volatility slightly decreased on April 25, reflecting enhanced market expectations of price stability.
