Derivatives: Option data shows traders hedging against Bitcoin dropping below $100,000 and Ethereum dropping below $3,000

By: theblockbeats.news|2025/08/06 10:41:53

BlockBeats News, August 6th, according to The Block, after a strong uptrend last month in Bitcoin, Ethereum, and other major cryptocurrencies, the recent cryptocurrency price action has been lackluster, seemingly prompting some market participants to adopt a bearish stance. Cryptocurrency options platform Derive has stated that its options positions expiring on August 29th have significantly favored Bitcoin and Ethereum put options, indicating that traders are hedging against a price decline by the end of the month.

Derive's Head of Research, Sean Dawson, has stated that the number of Ethereum put options expiring by August 29th exceeds call options by over 10%, with the highest interest concentrated at $3,200, $3,000, and $2,200 strike prices. The analyst stated that this positioning is consistent with the expectation of "any scenario from a mild pullback to a deeper correction." The bearish sentiment is even more pronounced for Bitcoin. The open interest for Bitcoin put options expiring on August 29th is nearly 5 times that of call options, with around half concentrated at a $95,000 strike price, and a quarter each at $80,000 and $100,000 strike prices. The analyst noted that this distribution shows traders are "heavily betting on Bitcoin falling below $100,000."

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