Deribit data shows traders’ preference shifting toward bearish positions, with $80K and $85K BTC puts dominating open interest as bullish $140K calls decline.
As of November 24, the $80,000 Bitcoin put option remains the top position on Deribit, with over $2 billion in open interest. The $85,000 strike put follows closely at $1.97 billion, while the previously leading $140K call has dropped to $1.56 billion. This marks a continued shift toward bearish sentiment in the Bitcoin options market, as puts, representing bets on price declines, now lead over calls.