Deribit Chief Business Officer: Traders are seeking to hedge the risk of BTC's decline
Luuk Strijers, Chief Commercial Officer of the encrypted options exchange Deribit, stated that traders are seeking protection to hedge against the risk of BTC price decline. In an interview, Strijers mentioned that put options are being overbought while call options are being sold, indicating that the market is seeking protection to withstand potential price drops.
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Data: The current Crypto Fear & Greed Index is 48, indicating a neutral state.
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