Deribit put volume doubles calls as bitcoin slips to $81,400
- —Deribit put volume exceeded call volume by more than 2x in 24 hours
- —The $80,000 put expiring October 30 was the most traded contract
- —Longs make up roughly 55% of BTC positions, long/short ratio at 1.24
- —Total BTC open interest fell 0.6% to $27.4 billion
Why it matters: Traders are holding longs while paying up for downside protection, signaling expectations of a sharp move with hedging against a break below $80,000.
Source: Koin Bülteni