Bloomberg: Traders begin hedging $70,000 price in Bitcoin options market

The Trump fever is fading in various markets, and the Bitcoin options market shows that investors and traders have begun to hedge against a downturn. Traders have started hedging at $70,000 on the Bitcoin options market. According to data from the crypto options exchange Deribit, the number of open contracts for put options with an exercise price of $70,000 has reached the second highest among all contracts due on February 28th, totaling $4.9 billion in open contracts set to expire on Friday. (Bloomberg)