Bitcoin Drops to 57,700 USD, Traders Bet on 50,000 USD September Put Options

BTC3.20%
According to CoinDesk, Bitcoin dropped to 57,700 USD, the lowest since September 2024, before recovering to 58,800 USD. Markets recorded 395 million USD in liquidations, with open interest reaching 768,000 BTC. On Deribit, put options across all expiries traded at a premium; traders placed a large bet on September-expiring Bitcoin put options with a 50,000 USD strike price.
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