$80K Bitcoin Put Now Most Popular Options Bet
Bearish sentiment is growing in the BTC options market, with the $80,000 put now the top contract on Deribit. Open interest in the $80K put exceeds $2 billion, surpassing the $85,000 put at $1.97 billion. Meanwhile, the $140,000 call has fallen to $1.56 billion in open interest.
The $80,000 put represents a bet that bitcoin’s price will drop below that level. In options markets, put buyers are typically bearish, while call buyers are considered bullish, anticipating price gains.
