🎄 Options traders now see a bigger chance of sub-$70K Bitcoin by Christmas
Traders on options platform Derive now price a 31% chance that Bitcoin ends Christmas below $70,000, up from 15% a week ago, while the odds of an $80,000-plus finish fell from 53% to 26%, per Derive CEO Nick Forster. Puts made up 55% of premiums traded last week, versus 36% the week before.
K33 says Bitcoin perpetual futures open interest sits around 353,000 BTC, up 12% in 30 days, a level topped on only 1.2% of trading days over the past two years. "A breakdown could trigger substantial long liquidations, while a recovery could fuel short covering," K33's Vetle Lunde said, calling the market "ripe for a squeeze."
Bitcoin trades near $73,500 after five straight weekly losses, and US spot Bitcoin ETFs have shed another $296 million this week after $1.28 billion in outflows last week.
⭐ Heavy leverage plus defensive options positioning means the next big move, up or down, could be amplified by forced liquidations.
#Bitcoin #BTC #Options #Derivatives
Traders on options platform Derive now price a 31% chance that Bitcoin ends Christmas below $70,000, up from 15% a week ago, while the odds of an $80,000-plus finish fell from 53% to 26%, per Derive CEO Nick Forster. Puts made up 55% of premiums traded last week, versus 36% the week before.
K33 says Bitcoin perpetual futures open interest sits around 353,000 BTC, up 12% in 30 days, a level topped on only 1.2% of trading days over the past two years. "A breakdown could trigger substantial long liquidations, while a recovery could fuel short covering," K33's Vetle Lunde said, calling the market "ripe for a squeeze."
Bitcoin trades near $73,500 after five straight weekly losses, and US spot Bitcoin ETFs have shed another $296 million this week after $1.28 billion in outflows last week.
⭐ Heavy leverage plus defensive options positioning means the next big move, up or down, could be amplified by forced liquidations.
#Bitcoin #BTC #Options #Derivatives
