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Bitcoin options traders betting on bitcoin below $100,000
While bitcoin hasn’t budged much since the escalation of the conflict in the Middle East, Bloomberg reports that “bitcoin options show traders are hedging against a price pullback to the $100,000 price level with geopolitical and economic uncertainty rising across global financial markets.” Bitcoin has been trading mostly in the $104,000 to $109,000 range over the past week. “The put-to-call volume ratio on the crypto derivatives exchange Deribit surged to 2.17 over the past 24 hours, reflecting a strong tilt toward protective bets,” Bloomberg added. Stephen Wundke, director of strategy and revenue at ... (full story)
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