I see in the Bitcoin options market that fear is really high right now. The downside protection premium has reached an all-time high, which means many investors are hedging their positions. It seems the market is truly worried about a potential pullback.

This pattern usually occurs when there is uncertainty in market sentiment. We have seen this before before major moves, either up or down. Maybe in the coming weeks until June, we should watch how the price action reacts to these high fear levels.

It's interesting that even with strong fundamentals, the options market is showing caution. This might be an opportunity for contrarian traders, but it’s still risky. Watch the next few weeks to see if resistance breaks or if it dips further.