Bitcoin
The options flow in the Derive decentralized Ochain platform. Xyz shows that merchants are preparing for the volatility of downward prices in the next two weeks.
As of Monday, 20% of the total BTC options of the open platform, valued at more than $ 54 million, concentrated on the expiration sales options of July 11 with strikes at $ 85,000, $ 100,000 and $ 106,000, according to data shared by Derive.
“This suggests that merchants are positioning for a possible disadvantage, possibly preparing for the macro uncertainty or the profits after the recent strength,” said Nick Forster, founder of Derive to Coindesk.
A sales option gives the holder the right to sell the underlying asset, such as BTC, at a predetermined price in or before a specified future date. A buyer Put is implicitly bassist in the market, seeking to protect or benefit from a possible decrease in the price of the underlying asset. Open interest refers to the dollar value of the number of active options contracts at a given time.
Forster added that the sales options represented more than 70% of the negotiation volume in the last 24 hours, a sign that “BTC merchants are defensive.”
The bearish flow contradicts the activity in the giant’s detribity of centralized cryptography options, where merchants abandoned the July expiration options while bought upward bets or purchase options. The adjustment occurred when the price of BTC increased more than 7% last week, marking a strong rebound of levels of less than $ 100,000.
“We observe the Non -100,000 Dumping (blue) of $ 108,000- $ 115,000 more calls. With a quieter atmosphere and next long weekend on July 4, more inventory was sold to concessionaires, “Delibit said in X.
Optimistic Dex merchants about ETH
Merchants in Derive Leaned Bullish in Ether, with approximately 30% open interest concentrated in strike call options of $ 2,900 and another 10% in the call of $ 3,200.
“This positioning seems to be driven by the anticipation of ETHCC in Cannes, an important event historically associated with products advertisements and ecosystem growth. Merchants clearly expect catalysts that could boost the ascending impulse,” Forster said.
