Deribit: Bitcoin ETF holders and treasury firms stack protection against price crash below $60,000, Deribit says

Market participants with long-term vision are buying downside protection. What to know : Large bitcoin ETF holders and corporate treasuries are aggressively buying six- and 12-month put options at $60,000 or below as insurance against a potential price drop, Deribit said. Open interest in $60,000 bitcoin puts on Deribit has climbed to about $1.5 billion, the highest across all strikes and expiries,