Options Bets Turn Defensive Ahead of a Bitcoin Price Showdown

Bitcoin derivatives traders are dragging a hefty book into September, with futures open interest at $54.82 billion while the spot price sits at $78,425 at 7 p.m. Eastern time on Aug. 30. Alongside this, options positioning tells a sharper story.

Currently, calls dominate outstanding contracts, September expirations are heavily populated, and max-pain levels are mostly […]