Bitcoin $20,000 put option is third most popular strike ahead of quarterly expiry

A Bitcoin put option with a strike price of $20,000 has become the third most popular option ahead of the upcoming quarterly expiry. This surge in interest reflects traders' strategies to hedge against potential declines in Bitcoin's price. The overall options market for Bitcoin has seen increased activity, with significant volumes being traded as the expiry date approaches. Analysts suggest that the popularity of this put option indicates a cautious sentiment among investors regarding Bitcoin's near-term price movements.

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