In brief
- Options traders buy more downside protection after the crypto’s largest liquidation event, Decrypt was told.
- Bitcoin’s $115,000, $95,000, and Ethereum’s $4,000, $3,600 strikes are seeing a high demand, according to options data.
- Experts remain cautious of the weekend rally, citing it as a “recalibration” move amid persisting structural risks.
The crypto market is navigating the aftermath of a historic liquidation event, with an options expert noting a dramatic shift in trader sentiment and strategy.
Roughly $20 billion in positions were wiped out last Friday as Bitcoin plummeted 17% in a matter of hours. The sell-off, now dubbed “Black Friday,” occurred after President Trump announced a 100% tariff on all Chinese products in response to Beijing’s restriction on rare mineral exports, Decrypt previously reported.
The shockwave also hit traditional markets, sending the S&P 500 down 3.37% to a 29-day low.
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Author: Akash Girimath
