Bitcoin Options Traders Bet on Price Below $80,000 by New Year, Deribit Data Shows

Data from the leading crypto derivatives exchange Deribit reveals a significant concentration of Bitcoin (BTC) options bets targeting a price below $80,000 by the end of the year. Traders are actively purchasing put options, which increase in value if Bitcoin's price falls, indicating a hedging or speculative stance against a major rally before January. This activity points to a cautious or bearish near-term sentiment among sophisticated market participants, despite Bitcoin's overall strong performance in 2024. The $80,000 level has emerged as a key psychological and technical barrier in options markets. Analysts note that such positioning can sometimes act as a contrarian indicator, as markets often move against the consensus of options traders.