Bitcoin's options market has shown mixed signals in recent days, with a notable increase in bearish sentiment among short-term holders and option buyers. The 30-day options delta skew for Bitcoin reached a four-month high, indicating heightened fear as demand for protective put options surged. Despite this, recent data from Deribit and Glassnode reveal a substantial $41 million in fresh call buying concentrated in the $124,000 to $130,000 strike range, suggesting that traders are positioning for Bitcoin to stabilize or rise toward this target zone. Meanwhile, short-term holders are selling Bitcoin at a loss for the first time since January, marking the deepest loss-taking in over a month. This behavior could signal either a market reset or weakening momentum. Retail traders have turned ultra bearish after Bitcoin's price dipped below $113,000, reflecting the most negative sentiment since June 22. Historically, such extreme pessimism has often preceded buying opportunities. Overall, the Bitcoin market is experiencing increased volatility and uncertainty, with option positioning indicating a potential price magnet between $120,000 and $130,000, while short-term holders' loss-taking suggests caution among investors.