Bitcoin
The options take place on the main decentralized onchain platform.
Monday, 20% of the total BTC options of the platform, a value of more than $ 54 million, was concentrated in the exposure options of July 11 with strikes at $ 85,000, $ 100,000 and $ 106,000, according to data shared by Derive.
“This suggests that traders position themselves for a potential drawback, possibly catching up with macro uncertainty or taking advantage after recent strength,” said Nick Forster, founder of Coindesk derive.
An option of sale gives the holder the right to sell the underlying asset, such as BTC, at a predetermined price no later than a specified future date. A put buyer is implicitly dropped to the market, seeking to cover or benefit from a potential decrease in the price of the underlying assets. The open interest refers to the value in dollars in the number of active options contracts at a given time.
Forster added that power options represented more than 70% of the negotiation volume in the past 24 hours, a sign that “BTC traders are on the defensive”.
The lowering flow contradicts the activity on the centralized giant crimpto options, where traders have abandoned the July outspoon options while buying upwards or appeal options. The adjustment occurred while the price of the BTC increased by more than 7% last week, marking a solid rebound of less than $ 100,000.
“We observe that the spill of $ 100,000 is no longer required and less in July and the buyout (blue) From $ 108,000 to $ 115,000 plus calls. With a quieter environment and the long weekend of July 4 to come, more inventory was sold on the dealerships, “noted X.
Dex Optimistic Traders on ETH
Derivative merchants have ophanced on ether, with around 30% of open interest concentrated in strike purchase options of $ 2,900 and 10% of more than $ 3,200.
“This positioning seems to be motivated by the anticipation of ETHCC in Cannes – a major event historically associated with product announcements and the growth of ecosystems. Traders are clearly waiting for catalysts that could lead to an upward dynamic,” noted Forster.
