Bitcoin Options Market Signals Further Price Drop

Bitcoins recent plunge, dropping over twenty-five percent to eighty-three thousand seven hundred dollars, has sparked a surge in short-term put options. Traders are betting on a further decrease, with the seventy-five thousand dollar strike price on the Deribit exchange gaining traction. This bearish sentiment is evident in the shift from the one hundred forty thousand dollar call option to the eighty-five thousand dollar put option. Over sixty-five percent of options activity in the past week has been put options, indicating aggressive hedging against further downside and a profit-seeking approach amidst market volatility.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.