According to BlockBeats, on April 3, Greeks.live macro researcher Adam stated in an article on the X platform that the continuous decline of Bitcoin has led to a significant drop in the overall market, with market panic spreading and a decrease in futures premiums. However, in the options market, there were very few bearish option trades, with the majority of trades being bullish options. This was particularly evident for Ethereum (ETH), where bullish option trades accounted for 90% of the total trades, an extremely rare and extreme proportion level.
Moreover, the trades were dispersed across various major expiration dates and price levels for the month, with no large-scale trades observed. This suggests that the trading activity is likely positioning for volatility around the upcoming halving event.