According to Gate News bot and CoinDesk, the trading situation of Bitcoin options on the decentralized on-chain platform Derive shows that traders are preparing for price downward fluctuations in the coming weeks.
According to the data shared by Derive, as of Monday, 20% of the BTC Options open contracts (worth over $54 million) on the platform are concentrated in put options expiring on July 11, with strike prices of $85,000, $100,000, and $106,000.
Derive founder Nick Forster explained: “This indicates that traders are preparing for potential downside risks, possibly in response to macro uncertainty or to take profits after a recent rally.”
A put option gives the holder the right to sell the underlying asset (such as Bitcoin) at a predetermined price on or before a specified future date. The buyer of a put option implicitly bets on a bearish market, seeking to hedge against potential declines in the price of the underlying asset or to profit from it. Open interest refers to the dollar value of the number of active options contracts at a specific point in time.
Forster added that put options accounted for over 70% of the trading volume in the past 24 hours, indicating that “BTC traders are on the defensive.”
This bearish trend contrasts sharply with the trading activity on Deribit. On Deribit, traders sold put options expiring in July while repurchasing call options or call options. This adjustment occurred as the price of BTC surged over 7% last week, marking a strong rebound from levels below $100,000.
Traders on Derive are bullish on Ethereum, with about 30% of open contracts concentrated in call options with a strike price of $2,900, and another 10% concentrated in call options with a strike price of $3,200.
“This position seems to be driven by expectations surrounding the Cannes ETHCC conference—this major event has always been closely related to product launches and ecosystem development. Traders are clearly anticipating catalysts that could drive upward momentum,” Forster noted.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
