Bitcoin Options Traders Turn Defensive As BTC Consolidates Near $60K Support

According to Deribit Insights, Bitcoin options traders are net buying puts and selling calls, signaling defensive positioning as BTC consolidates near $60,000. The analysis noted negative volatility risk premium (around -25) and short-dated bearish skew, indicating traders are hedging against immediate downside risk rather than chasing upside exposure. Bitcoin's realized volatility surged to around 70, while implied volatility retreated, creating a mismatch that suggests spot markets remain unstable.

Deribit warned that if current support fails, Bitcoin could test the $50,000 area on the weekly chart. The report emphasized that options data reveals where professional traders are spending money to manage risk, with positioning that looks more protective than optimistic at present.