Bitcoin ETFs and Treasury firms bought $60,000 worth of protective put options.

PANews reported on February 27th that, according to CoinDesk, large Bitcoin ETF holders and treasury firms have recently been buying BTC put options with strike prices of $60,000 or less and maturities of 6 months and 1 year on Deribit as a combined insurance strategy against a price drop below $60,000. Deribit stated that open interest in BTC put options with a strike price of $60,000 has risen to approximately $1.5 billion, the highest among all strike prices and maturities on the platform, indicating a significant increase in demand for medium- to long-term downside hedging. Currently, Bitcoin spot prices are fluctuating around $67,000, but the implied volatility of 30-day put options is about 7% higher than that of call options, indicating that the options trading suggests the market still prefers downside protection.