Bitcoin Derivatives Market Turns Bullish Amid Spot Selling

The Bitcoin derivatives market is showing signs of increasing bullishness, despite spot traders remaining hesitant to push prices above $80,000.

According to Glassnode's Market Pulse, demand for call options has increased, making them more expensive than puts. This shift in positioning suggests that traders are becoming more willing to pay for the possibility of another advance.

Institutional flows are also supporting this trend, with US spot Bitcoin ETFs attracting $681.2 million in net inflows over the latest weekly observation.

However, aggressive selling still outweighs buying on centralized exchanges, and spot flow remains negative. This divergence between speculative positioning and actual spot demand has been a concern for market participants.