The bitcoin options market is sending some pretty bullish signals right now. I've been watching the skew numbers and they've completely flipped from what we saw in February when everyone was panicking. Back then we had -25% skew, now we're sitting around +10%, which basically means traders have stopped loading up on crash protection and are expecting things to stabilize or even move higher.

Here's what's interesting - options pricing is now pricing in roughly a 35% chance that BTC will trade above $80K by end of June. That's a pretty significant shift in how the market sees things. The recovery from those deeply negative sentiment levels suggests traders genuinely believe will crypto recover toward that $80K range over the next few months.

What's also telling is the surge in put writing lately. When traders are willing to write puts (basically betting on downside), it means they're comfortable taking that risk in exchange for premium. That only happens when you're not expecting a crash. With BTC currently trading around $73.2K and up about 1.3% in the last day, the momentum seems to be building.

The whole picture - the skew recovery, the put activity, the options pricing - it all points to the same thing: traders are positioning for a move higher. Whether will crypto recover all the way to $80K or beyond is still uncertain, but the options market is clearly leaning bullish right now. If this sentiment holds, we could see some interesting price action in the coming weeks.