Summary
- It was reported that the price of put options for BlackRock's spot Bitcoin (BTC) ETF IBIT reached its highest level since the crash in April.
- It was stated that this signals a significant increase in hedging demand against a BTC price decline.
- Currently, BTC is trading at $116,093 on the Binance USDT market, down 1.79% from the previous day.
According to cryptocurrency-focused media CoinDesk on the 18th (local time), the price of put options for BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) IBIT soared to its highest level since the crash in April. This indicates a substantial increase in hedging demand against a drop in BTC prices.
As of 00:53 on the 19th, BTC is trading at $116,093 on the Binance Tether (USDT) market, down 1.79% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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