Institutional hedging demand surges for BTC under $60K

BTC spot ETF investors and corporations are engaging in large-scale hedging to protect against a potential drop below $60,000, CoinDesk reported. Jean-David Péquignot, Chief Commercial Officer at crypto derivatives exchange Deribit, said that ETF investors and corporate treasury teams have recently been active buyers of put options with strike prices below $60,000 and maturities of six months to one year. He noted that the open interest for these options has reached $1.5 billion, representing the largest concentration on the exchange across all strike prices and expiration dates.