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Deribit reports that Bitcoin ETF holders and treasury management firms are purchasing put options to hedge against a potential price drop below $60,000. This activity reflects institutional caution amid mixed market signals and uncertainty about Bitcoin's near-term direction. The increased demand for downside protection could signal a bearish bias among long-term holders, potentially influencing broader market sentiment. Such hedging strategies may stabilize price volatility in the short term but could also indicate underlying concerns about regulatory or macroeconomic risks.
