Bitcoin News: How Deep Could BTC Fall?
Traders are increasing hedges, with significant open interest in $80,000 put options, anticipating a deeper Bitcoin sell-off.Summary
Bitcoin's price recently dipped below $100,000, driven by macro uncertainties and hawkish commentary from Fed Chair Jerome Powell, which reversed strong inflows into spot ETFs. This weakness is reflected in the options market, where Deribit data shows growing caution. Traders are increasingly hedging against a deeper slide, evidenced by a notable surge in open interest for $80,000 put options, signaling expectations for a continued sell-off. The open interest for the $80,000 put option exceeds $1 billion, nearly matching the combined interest of popular higher-strike call options. This hedging activity occurs after Bitcoin fell over 18% from its record high, with some analysts warning that sustained weakness near $100,000 risks a feedback loop involving ETF outflows.
(Source：CoinDesk)