Can Bitcoin Revisit $97,600? Glassnode Says Watch This

Bitcoin’s push to $97,600 last week drew a burst of bullish options activity, but Glassnode argues the derivatives tape looked more like short-dated positioning than broad-based conviction. In a Jan. 23 thread, the on-chain analytics firm pointed to a split between front-end call demand and longer-dated risk pricing that stayed anchored in downside protection.
“Let’s deep dive into options market behavior during last week’s move to 97.6K, and how options metrics help gaug