Bitcoin Traders Brace for Storm: $85K-$106K Puts Signal DEX Bet on Downside Volatility

Decentralized exchanges are flashing warning signs as Bitcoin traders load up on bearish bets.

Put options between $85,000 and $106,000 dominate DEX activity—a clear hedge against potential turbulence ahead. These aren't your grandma's 'buy the dip' plays. This is sophisticated downside protection at work.

Why the caution? The smart money remembers 2024's 40% flash crash. Now they're building moats while retail FOMO chases the next ATH.

One cynical take: Wall Street would charge 2% management fees for this level of risk hedging. On-chain traders? They just pay gas.

DEX traders optimistic about ETH

Traders on Derive leaned bullish on ether, with about 30% of open interest concentrated in the $2,900 strike call options and another 10% in the $3,200 call.

"This positioning seems to be driven by anticipation of ETHCC in Cannes – a major event historically associated with product announcements and ecosystem growth. Traders are clearly expecting catalysts that could drive upward momentum," Forster noted.