As Bitcoin (BTC) price action sees significant corrections, analysts are looking to derivatives markets for answers. With whispers of a trend reversal, the focus is on how whales are positioned in Bitcoin derivatives markets. The May 10 $1.35 billion BTC options expiry could bring volatility. The failure to maintain prices above $65,000 on May 6 has some blaming the weekly options expiry for the downtrend. However, detailed analysis reveals a different scenario. The average BTC options put-to-call volume at Deribit stood at 0.60 for the past 10 days, making it hard to justify that bears anticipated Bitcoin's failure to sustain $65,000 on May 6. The best-case scenario for bears requires a Bitcoin price below $61,000 to secure a $100 million advantage.