Bitcoin (BTC to PKR) is facing renewed downside pressure as professional traders hedge with bearish options strategies and US-listed Bitcoin ETFs recorded $910 million in outflows. Analysts warn that a retest of the yearly low near $60,000 is increasingly probable unless bulls reclaim momentum above $66K–$70K.
BTC trades near $67,534 (≈ PKR 18.8–19.0 million) after rejecting $71K over the weekend. Options data from Deribit shows put options trading at a 13% premium to calls, indicating that professional traders are prioritizing downside protection.
Popular bearish strategies include the bear diagonal spread, short straddle, and short risk reversal, all designed to profit from either sideways or declining Bitcoin prices with limited upfront cost.
“Professional traders are clearly leaning cautious, pricing in a potential move to $60,000,” analysts at Laevitas observed.
Despite relative strength in traditional markets like stocks and gold, Bitcoin ETFs have seen significant withdrawals. Outflows totaling $910 million since Feb. 11 suggest that institutional investors remain wary, further suppressing near-term bullish sentiment.
Stablecoin premiums also point to moderate outflows, signaling cautious capital allocation toward crypto amid ongoing macro and sector-specific risks.
Analysts suggest that Bitcoin may stay capped below $70K until a sustained bullish catalyst emerges. If support around $66K fails, the market could retest $60,200, marking the yearly low. A decisive recovery above $70K–$71K remains critical for any meaningful upside in BTC to PKR terms.
