Analysis: Bitcoin failed to break higher, and the derivatives market is signaling a bearish bias and pricing in a deeper pullback risk.

MarsBitNews · 2026-01-20T12:15:56+00:00

Bitcoin and the crypto market have fallen again, giving back previous gains. The overall market trend is consistent with the US stock market, with Nasdaq and S&P 500 futures both declining. A large amount of capital is flowing out, and traders are pricing higher put options than call options for Bitcoin and Ethereum, with a 30% chance that BTC will fall below $80,000.

MarsBitNews

2026-01-20 12:15:56

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Mars Finance reports that Bitcoin and the broader crypto market have declined again, with BTC prices giving back all the gains made last week when it reached $98,000. This crypto market sell-off is in line with the movement of US stock index futures, with futures linked to the Nasdaq 100 falling over 1.9% and S&P 500 futures dropping 1.6%. Additionally, open interest in Bitcoin futures remains stable, and the funding rates for most mainstream tokens are still positive, while futures open interest for DOGE, ZEC, and ADA (OI) lead the decline, indicating capital outflows. On some derivatives platforms, traders’ pricing of put options on BTC and ETH continues to be higher than call options, with traders estimating a 30% chance that BTC could fall below $80,000.

BTC-3,33%

DOGE-4,06%

ZEC-5,25%

ADA-4,06%

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