Derive data shows a bearish trend in the August options markets for Bitcoin and Ethereum

According to The Block, Derive data shows that with the Federal Reserve meeting in July keeping interest rates unchanged, market sentiment has turned cautious, and traders are clearly inclined to put Bitcoin and Ethereum options due in August, with demand concentrated on put options. According to Sean Dawson, head of research at Derive, the holdings of put options on Ethereum expiring on August 29th have exceeded call options by more than 10%, mainly concentrated at exercise prices of $3200, $3000, and $2200. The bearish sentiment towards Bitcoin is more pronounced, with put options expiring on August 29th holding nearly five times the amount of call options, mainly concentrated at exercise prices of $95000, $80000, and $100000, indicating that traders are generally betting on Bitcoin falling below $100000. Derive predicts that the probability of Ethereum falling below $3000 by the end of August is 25%, and the probability of Bitcoin returning below $100000 is 18%.