As Bitcoin's BTC price struggles to secure a foothold above $90,000, developments in the Deribit-listed options market tied to the cryptocurrency resemble patterns that foreshadowed the recent price slide in Trump media shares.

The implied probability distribution is skewed, indicating expectations for a price pullback.

Griffin Ardern, the head of options trading and research at BloFin, stated, "The implied probability distribution of different expiration dates has shown a significant left shift. Traders seem to believe that prices are still high and possible pullbacks are on the horizon."

Hawkish comments from Federal Reserve Chairman Jerome Powell about not needing to lower rates hasten the momentum for a drop in Bitcoin prices. Despite this, market participants remain optimistic, betting on a rise beyond $100,000.