Bitcoin remains firmly around 74k, interesting to see how many traders are now building protection against further decline. You can see it in the noticeable demand for put options and crash hedges in recent days.

The market feels a bit nervous, as if everyone is waiting for the next move. Some traders are positioning themselves defensively with signals that protect them in case of a sudden correction. It seems that after the recent volatility, many people are becoming more cautious with their exposure.

Strangely enough, this kind of defensive setup can sometimes signal a bottom — when everyone is already protected, there is less room for further panic. Let's see how this develops in the coming days.