Bitcoin · Federal Reserve (FED) · Strategy · CoinDesk
Bitcoin traders load up on bearish bets all the way down to $52,000
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Bitcoin BTC $ 62,735.74 traders are scrambling to position for a deeper selloff, snapping up put options that would deliver big payouts if prices slide all the way down to $52,000 in the coming weeks.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- As of writing, BTC changed hands near $62,400, down 0.8% since midnight UTC hours, data
- Bitcoin BTC $ 62,735.74 traders are scrambling to position for a deeper selloff, snapping up put options that would deliver big payouts if prices slide all the way down to $52,000 in the coming weeks
- In the past 24 to 48 hours, crypto exchange Deribit saw heavy buying of short- and near-dated put options, spanning expirations from June 22 to July 31, according to data tracked by Laevitas
Summary
Bitcoin traders are heavily buying short- and near-dated put options on Deribit, signaling growing bets on a deeper price drop toward levels as low as $52,000. The rush into out-of-the-money puts reflects mounting bearish sentiment driven by a hawkish Federal Reserve, a stronger dollar and dominant BTC holder Strategy's growing complications. In the past 24 to 48 hours, crypto exchange Deribit saw heavy buying of short- and near-dated put options, spanning expirations from June 22 to July 31, according to data tracked by Laevitas. June 22 $61,500 puts (337 contracts)