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$BTC BID FOR PROTECTION AT $60,000 AS BULLS ABANDON THE RALLY WINDOW 🔴
Target: 60,000 🎯
Stop Loss: 65,500 🛑
📉 The $60,000 put now commands $1.17 billion in open interest — the single largest position on Deribit. 🛡️ That's not a whisper; that's the market buying insurance by the truckload as August's historically brutal season looms overhead.
📊 Traders were gunning for $70,000–$72,000 before the Fed meeting, but those calls bled from $2.5 billion down to roughly $900 million each after Friday's $10 billion expiry. 💡 The bull thesis didn't die — it was quietly closed out in the settlement window.
💭 History paints a murky picture: July's 8.9% gain matches its median almost perfectly, but positive Julys have consistently bled into softer Augusts. 🌊 Are you holding that dip or positioning for the liquidity drain? 👇
⚠️ Not financial advice. Always manage your risk. 🛡️
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#BTC #OptionsFlow #Bitcoin #DownsideProtection #Crypto 🐻 🛡️