Analysts expect traders to take a breather after the crypto's recent rally.
Bitcoin pulled back as traders digest regulatory developments in the U.S.
Bitcoin and ether remain well bid as U.S. senators reach a compromise on the crypto provision of the infrastructure bill.
Some analysts are optimistic about the broad crypto rally and see further upside, especially for ether.
The short-term put-call skews have pulled back due to a flurry of call buying.
In March, the investment bank relaunched its cryptocurrency trading desk after a three-year hiatus.
Positive news from El Salvador couldn't completely overcome negative news out of China.
Bitcoin busted out a quick 5% gain early Thursday on positive news from that continent before losing some steam.
BTC had climbed from $35,709 to as high as $42,441. Then the slide started.
The crypto car drove to the dump Monday as most blockchain assets fell.
"Buying options in this low implied volatility environment is extremely interesting," one crypto firm says.
Bitcoin has been trending higher for two days but ether is in the spotlight now.
Bitcoin fell by over $3,300 while options traders see ether going higher.
Less action in the bitcoin market Wednesday means traders are sitting out while ether options are piling up for a first-quarter expiration.
Bitcoin’s price has ridden a roller coaster on lower spot volume while options traders are ready to bet on ether FOMO.