BTC option traders bet on drop to $52K with surge in put buys

Bitcoin option traders are betting that the price could fall to $52,000 within weeks, CoinDesk reported, citing data from Deribit. Over the past 48 hours, there has been significant buying activity for put options expiring between June 22 and July 31. According to CoinDesk, this bearish sentiment is driven by a stronger U.S. dollar following hawkish Federal Reserve commentary, sustained outflows from spot BTC ETFs, and concerns related to MicroStrategy (MSTR). The report highlighted that MicroStrategy's preferred stock, STRC, is trading well below its par value, disrupting the company's structure for purchasing BTC.