Bitcoin
Option flow on major decentralized onchain platform derive.
By Monday, 20% of the total BTC options of the platform, which is the value of more than $ 54 million, was focused in the end of July 11, which was shared by the option put option with a strike in $ 85,000, $ 100,000 and $ 106,000, with a strike option. Are removed,
Deriv’s founder Nick Founder said, “This suggests that traders are positioning for a possible negative side, possibly after recent strength to take macro uncertainty or benefit,”.
A put option gives the holder the right to sell the underlying property, such as BTC, at a predetermined price or before a specified future date. A put buyer is clearly recession on the market, against the benefits of the potential fall in the price of the underlying asset or against the benefits. Open interest refers to the dollar value of the number of active option contracts at a certain time.
The Founder said that in the last 24 hours the trading volume for more than 70% of the put option is “BTC traders are defensive.”
The flow of recession opposes activity on the centralized crypto option legendary derribits, where traders abandoned the July expiry put option, while buying inverted bets or call options. The adjustment occurred when the price of BTC exceeded 7% last week, marking a strong bounce from the level of sub-$ 100,000.
“We inspect the dumping of $ 100,000 and below in July and buyback (Blue) $ 108,000- Calls over $ 115,000. With a cool atmosphere and upcoming July 4, US long weekend, more inventory was sold on dealers, ” Deribit noted On X.
Dex trader optimist about Eth
Merchants accelerated Ether on Deriv, focused in $ 2,900 strike call options with about 30% open interest and 10% in $ 3,200 calls.
“This situation seems to be inspired by the expectation of EthCC in the ear – a major event is historically associated with the development of product declarations and ecosystems. Traders clearly expect catalysts that can move upwards,” the Founder said.
