Greeks.Live: Options data shows that some traders have started buying put options to hedge against the risk of BTC decline

ChainCatcher news, according to CoinDesk, Bitcoin has surpassed $59,000 today, with a monthly increase of 40%. Greeks.Live indicates that some traders are heavily buying put options below $50,000, possibly to protect profits for spot holders. In the past 24 hours, there have been over 50 orders on Greeks.Live with a total value exceeding $5 million. Among them, several are active buy positions in out-of-the-money put options with lower strike prices.

Greeks.Live states that this market phenomenon is relatively rare and has only occasionally occurred in some historically large spot-driven bull markets, where spot holders purchase put options for protection.