Analyst: Despite short-term volatility, the market generally expects Bitcoin to maintain an upward trend in Q2

PANews reported on April 25 that according to The Block, the Bitcoin options market showed significant bullish sentiment. After the expiration of 76,709 options contracts with a nominal value of $7.2 billion, the BTC price stabilized at $94,500, up 2% from the previous day's low. Data shows that the number of call contracts (43,917) far exceeds the number of put contracts (32,793), with a put/call ratio of 0.73, and the maximum pain point at $86,000. Market analysis pointed out that call contracts are mainly concentrated at $95,000 and $100,000 strike prices, reflecting investors' optimistic expectations for medium- and long-term trends. Bitfinex analysts said that with the breakthrough of the $90,000 resistance range, the market is turning its target to higher prices, and the contracts expiring in late April and May have accumulated considerable open contracts at $95,000 and $100,000 strike prices. Deribit data shows that traders are rolling over their positions to contracts expiring on May 30 and June 27. Analysts believe that the accelerated inflow of funds into spot Bitcoin ETFs this week will be a key factor in supporting the price of the currency above $90,000. Although short-term fluctuations remain, the market generally expects Bitcoin to maintain an upward trend in the second quarter of 2025.

Whale CryptoQuant monitoring shows that centralized exchanges have seen the largest BTC withdrawal wave since 2023, with the 100-day moving average withdrawal volume hitting a two-year high. Analysts believe this marks the market entering a re-accumulation phase. Glassnode data confirms this trend, and its "accumulation trend score" shows that large entity buying intensity has returned to the level of December 2024 to January 2025. The indicator tracking shows that "whales continue to increase their holdings" in the recent price increase, effectively buffering the potential volatility brought by option expiration. Bitcoin's implied volatility fell slightly on April 25, reflecting the market's increased expectations for price stability.