Bitcoin futures tumbled Thursday to as low as $58,995, the lowest price since October 2024, bringing its drawdown from last year’s high to about 52 percent. The biggest cryptocurrency has been battling with the $60,000 level all year - first in February, where it found support, then again the first two weeks of June, before a pop to over $67,000. Options traders are treating this break like it could be the tip of an iceberg. The iShares Bitcoin Trust ETF (IBIT) traded just shy of 1.1 million options Thursday, almost double the average the past thirty days, according to Cboe LiveVol data. Put volume more than doubled ... (full story)