Deribit executive: Bitcoin falls below $60000, could trigger panic selling

According to CoinDesk, Deribit's Chief Commercial Officer Jean David P é quignot stated that $60000 is an important structural threshold for Bitcoin. In the past year, a large amount of institutional funds have bought Bitcoin in the range of $60000 to $67000. If the price falls, unrealized losses will increase, holding costs will rise, and investors may panic and sell. The open interest contract of put options with an exercise price of $60000 on Deribit has a nominal value exceeding $1.2 billion, and market makers may be forced to sell spot or futures due to Gamma risk, thereby accelerating the price decline.