TechFlow News, February 19: According to a CoinDesk report, Deribit data shows that as Bitcoin rebounded from a sharp correction to around $66,000, the notional value of the $40,000 put options expiring on February 27 has reached approximately $490 million—highlighting rising hedging demand amid growing concerns over downside risk. Additionally, roughly $7.3 billion in Bitcoin options will expire by month-end, with $566 million concentrated at the $75,000 strike price—the current “maximum pain price.” Although call options still outnumber puts overall (63,547 call contracts versus 45,914 put contracts), the open interest ratio stands at 0.72. Nevertheless, the large put positions at lower strike prices indicate heightened demand for downside protection; traders are maintaining upside exposure while simultaneously hedging against potential further declines.
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