Bitcoin DEX Traders Bet Big on Volatility: $85K-$106K Puts Signal Bearish Hedge (Deribit Data Exposes the Move)

Decentralized exchanges are flashing warning signs—and traders are listening. Deribit's latest options data reveals a surge in Bitcoin put contracts between $85,000 and $106,000, suggesting savvy players are bracing for downside swings.

Hedging or capitulation? The smart money's playing both sides.

While permabulls chant 'number go up,' derivatives markets tell a messier story. These puts aren't cheap—someone's paying serious premiums to insure against a drop. Either they know something, or they're overpaying for peace of mind (classic crypto).

One thing's clear: volatility is the only free lunch left in crypto. And just like your average DeFi yield farm, it'll probably rug you when least expected.

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.