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According to Bloomberg, Bitcoin has fallen back after hitting a historic high, and some traders are seeking to hedge against deeper pullback risks, after the original cryptocurrency surged above $100000 for the first time. According to Amberdata, which tracks data on the digital asset market, put options with exercise prices of $95000 and $100000 have the highest open interest volume in the past 24 hours, and demand for put options in the $75000 and $70000 range has also increased. Luke Olan, a research assistant at cryptocurrency asset management company CoinShares, said, "When we break down by expiration date, we can see that the open interest contracts for put options are mainly concentrated at the end of December and the end of January next year, with some at the end of February next year. This is logically reasonable and can hedge against any possible pullbacks or unexpected situations that may arise from this significant increase @gyozatarochan
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