Bitcoin Options: $40K Put is Second-Largest Bet Before February Expiry

A significant bearish bet on Bitcoin has emerged in the options market ahead of next week's expiry. The $40,000 put option for Bitcoin (BTC) has become the second-largest single position by open interest, trailing only the $50,000 call option. This development highlights a major divergence in trader sentiment. While some investors are positioning for a potential drop below $40,000, the largest position remains a bullish $50,000 call. The concentration of these large bets around key price levels suggests heightened anticipation and potential volatility surrounding the February options expiration. Market analysts are closely watching these positions, as large-scale options activity can often influence spot price movements near expiry dates.