Bitcoin’s Latest Rally Fails to Convince Nervous Options Traders

Traders in the Bitcoin options market continue to price in downside risk and remain pessimistic about the cryptocurrency despite a recent surge in prices.

Bitcoin climbed to a one-month high above $74,000 Wednesday as it bounced back from a low near $63,000 on Saturday after the US and Israel bombed Iran. The token fell as much as 1.4% in early European trading on Friday and was hovering around $70,700 at 7 a.m. in London. Despite this week’s gains, investors are wary.