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Deribit Exchange Data Shows Crypto Traders Preparing for August Downturn with Heavy Put Options on Bitcoin and Ethereum
Deribit Exchange Data Shows Crypto Traders Preparing for August Downturn with Heavy Put Options on Bitcoin and Ethereum
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Deribit exchange News -
Derivatives markets indicate increasing caution among cryptocurrency traders, with Bitcoin put options surpassing calls by nearly 5:1 for August expirations. The $95,000 strike price represents half of Derive.xyz's bearish activity, while Deribit reports $2.8 billion in open interest for puts below $110,000. Probability models estimate only an 18% likelihood of BTC reaching $100,000 this month.
Ethereum shows similar defensive positioning, though less extreme. Options skew shifted from +2% to -2% over thirty days, highlighting heightened demand for downside protection. Market makers now view August as a potential cooldown period following Q2's speculative rally.
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