Episode Details

Traders are betting big on bitcoin put options, with nearly $600 million in notional value at the $20,000 strike on Deribit. This comes as bitcoin trades below $70,000 and Middle East tensions fuel crash fears. However, many of these low-odds options are sold to pocket premiums, indicating a mix of views on both sharp falls and big rallies. Deribits total bitcoin options notional value stands at $13.5 billion, with a slightly bullish market skew. The max pain point sits at $75,000, potentially drawing the price there as expiry nears.

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