Bitcoin Options Expiry: $20K Put Strike Ranks Third in Popularity

As the quarterly options expiry approaches, market data reveals significant trader interest in downside protection for Bitcoin. The put option with a strike price of $20,000 has emerged as the third most popular contract among traders. This activity highlights a notable level of hedging and bearish speculation within the derivatives market ahead of a key settlement date. Analysts monitor such concentrations in open interest to gauge potential support and resistance levels for BTC's spot price. The demand for these puts indicates that a segment of the market is positioning for or protecting against a potential decline toward the $20,000 mark.