Reported about 6 hours ago
As Bitcoin continues to decline, traders are increasingly hedging against a potential drop to $70,000, as indicated by the high open interest in put options. The cryptocurrency has fallen nearly 20% since January due to market volatility influenced by geopolitical tensions, a significant hack of the Bybit exchange, and dwindling demand for Bitcoin ETFs, causing over $2 billion in liquidations of bullish positions.
Source: YAHOO