- Institutions are increasing bearish BTC positions through $100M put options, indicating risk hedging over speculation.
- Exchange netflows show $702.5M BTC outflows, suggesting long-term accumulation rather than short-term selling.
- Whale transfers of millions in BTC to private wallets align with bullish accumulation trends despite institutional caution.
Institutions are increasing their bearish positions on Bitcoin (BTC) through large-scale put option trades. According to Greeks Live, the largest options block trade involved the purchase of BTC puts expiring on April 25, 2025, with a strike price of $60,000.
This transaction, valued at nearly $100 million, was executed for deep-risk hedging or highly leveraged speculation. The cost exceeded $100,000, making it more suitable for extreme risk management rather than independent speculation.
Institutions Bearish Stance Through Put Options
Large-scale block trades are currently focused on portfolio adjustments rather than speculative positions. Institutions have increased their exposure to put options, indicating a defensive approach.
The accumulation of deep out-of-the-money puts suggests increased market caution, reflecting concerns about potential price declines. Quarterly options delivery has concluded, shifting trading activity toward position-building.
Greeks Live noted that institutional investors have strengthened their put option strategies, indicating a bearish sentiment in the market. Protective positions are growing, showing a preference for hedging against downside risks rather than outright bullish speculation.
Bitcoin Holders See Profits as Exchange Netflows Decline
Despite institutional caution, Bitcoin’s on-chain data indicates strong accumulation. As per data from IntoTheBlock, BTC’s current price is at $84,629.18, with 86% of holders in profit. Meanwhile, 3% are at break-even, and 11% are at a loss.
A notable trend is the declining exchange netflows, which show more Bitcoin leaving exchanges than entering. Over the past week, net outflows totaled $702.5 million, suggesting investors are moving BTC to private wallets. This trend typically suggests long-term accumulation rather than short-term selling.
Investor behavior also indicates confidence in Bitcoin’s long-term potential. As per the data, 74% of BTC holders have held their assets for over a year, while only 4% have owned BTC for less than a month. This suggests a preference for long-term holding strategies rather than speculative trading.
Whales Move Millions in Bitcoin to Private Wallets
Whale transactions are also showing increased activity, with large BTC transfers from exchanges to unknown wallets. According to Whale Alert, two major transactions from Kraken were recorded.
One involved 863 BTC, worth approximately $73.6 million, while another saw 593 BTC, valued at $50.5 million, moved off the exchange. These transactions show growing interest from large investors, possibly aligning with the broader trend of accumulation.
BTC continues to see major movements from exchanges with market sentiment remaining divided. Institutions are hedging against downside risks, while long-term holders and whales appear to be strengthening their positions in the asset.
