Options data shows traders are bracing for a sharp bitcoin drop as weak demand and fragile positioning leave the market exposed to a break below key levels, a report from Bitfinex shows. Bitcoin’s seemingly stable trading range masks growing downside risk in derivatives markets, according to Bitfinex, where traders are paying a premium for protection and positioning for a sharper move lower. A negative gamma setup below about $68,000 could force market makers to sell more bitcoin as prices fall…
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