BTC options traders bet on long-term volatility

Trading in out-of-the-money (OTM) Bitcoin put options is on the rise, suggesting traders are positioning for long-term price volatility, according to Coindesk. The report highlights significant open interest on the Deribit exchange, with over $191 million tied to BTC put options with a $20,000 strike price expiring in June 2026. Other popular OTM puts with the same expiry include those with strike prices of $30,000, $40,000, $60,000, and $75,000. While such activity is often seen as a hedge against a sharp price decline, Coindesk noted that substantial demand also exists for call options with strike prices exceeding $200,000. This combination suggests that traders are betting on significant price swings in either direction rather than solely anticipating a market crash.