According to @BitMEXResearch, sophisticated Bitcoin (BTC) and Ether (ETH) traders are actively hedging against potential summer price declines, even as the broader market anticipates long-term bullish action. Data from Amberdata shows that 25-delta risk reversals for June, July, and August tenors are negative for BTC, indicating a stronger preference for protective put options over bullish call options. Singapore-based QCP Capital noted this suggests that long holders are hedging their spot exposure to prepare for potential drawdowns. Further evidence from the OTC platform Paradigm reveals top trades for BTC include bearish strategies like put spreads. Despite this defensive posturing, some analysts remain bullish; market observer Cas Abbé pointed to strong on-balance volume, suggesting BTC could rally to the $130,000-$135,000 range by the end of Q3. This cautious short-term outlook is contrasted by long-term structural demand, evidenced by significant BTC purchases from firms like Metaplanet and Cardone Capital.

According to Nic Carter, stablecoins are seen as the realization of Dee Hock’s foundational vision for digital value transfer systems, which has significant implications for crypto traders. Carter’s statement highlights how stablecoins, by offering price stability and seamless digital transactions, have become critical tools for hedging against volatility and enabling efficient trading strategies in the cryptocurrency market (source: Nic Carter on Twitter, May 4, 2025). This alignment with Hock’s vision suggests a maturing infrastructure for digital assets, increasing trader confidence and on-chain liquidity, and potentially lowering transaction costs for high-frequency and cross-border trading.

According to Eric Balchunas, a recent poll reveals that 80% of participants are maintaining long positions, with 62% expressing a bullish outlook. Notably, even among the 38% who are bearish, two-thirds are still long. This sentiment helps explain why the S&P 500 has only declined by 5% instead of a potential 20%. Balchunas refers to this phenomenon as the 'Vanguard Put,' suggesting a hedging strategy through index funds.

According to Michaël van de Poppe (@CryptoMichNL), he's holding his portfolio while hedging on the way up and rotating towards safer assets. His day trading strategy focuses on volatility, which he reports is performing tremendously.