TechFlow reported on December 6 that, according to Jinshi News, as Bitcoin retreated from its all-time high, traders are actively positioning for hedging strategies. Data from analytics platform Amberdata showed that within the past 24 hours, open interest in put options with strike prices of $95,000 and $100,000 was the highest, while demand for put options in the $75,000–$70,000 range also increased noticeably.
"If broken down by expiration date, we see that put option open interest is primarily concentrated at the end of December and January, with some also extending into February. When prices rise significantly, it's natural to hedge against pullbacks and unexpected moves," said Luke Nolan, a researcher at cryptocurrency asset management firm CoinShares.
