The movements on the BTC options side are quite noticeable. Even though short-term panic hedging hasn’t fully subsided yet, some funds have started positioning for call options. At the end of March and in April, call options at 75,000 started to see large-scale buying. What’s more interesting is that some of these funds are selling put options below 60,000 to buy call options. Additionally, for BTC options expiring in March, there’s about $660 million in call options and roughly $240 million in put options, with a ratio close to 3:1. The data doesn’t lie—there’s already a significant shift in the market from bearish to bullish.