Bitcoin options flows and a record gold OI suggest traders are bracing for further downside rather than a sustained recovery. Bitcoin dipped to $57,700, its lowest since September 2024, before recovering to $58,800, with $395 million in liquidations recorded and bears remaining the more aggressive side despite open interest climbing to 768,000 BTC. Puts are trading at a premium to calls across all timeframes on Deribit, with a notable block trade targeting a $50,000 BTC put at the September exp…
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