Despite bitcoin’s rapid $3,000 fall from new record highs seen Sunday, institutions seem confident about the cryptocurrency’s long-term prospects. The cryptocurrency dropped to $47,790 earlier on Monday, after just failing to pass the psychological hurdle of $50,000 over the weekend. So far, however, are there are few signs of preparations for deeper losses in the options market. “There is still an absence of any institutional long-term hedging. In fact, funds continue to take advantage of selling June-December expiry put options at strikes below $40,000,” Deribit Insights said in a tweet thread explaining the ... (full story)