Bitcoin traders pile into bearish put bets down to $52,000

Traders are loading up on short- and near-dated put options on Deribit, positioning for a deeper slide that could push bitcoin toward $52,000 in the coming weeks. Data tracked by Laevitas shows heavy buying across expirations from June 22 to July 31, including June 22 $61,500 puts (337 contracts); July 3 $60,000 puts (116) and $55,000 puts (380); July 10 $55,000 puts (540); and July 31 $52,000 puts (314).

Put buyers lock in the right to sell bitcoin at a set strike price, profiting if the market falls below that level. The surge in out-of-the-money puts reflects mounting bearish sentiment amid a hawkish Federal Reserve, a stronger dollar, persistent bitcoin ETF outflows and pressure on Strategy — whose preferred stock STRC has plunged well below its $100 par value, complicating the company’s accumulation strategy.

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