High Options Volume is Capping Bitcoin Prices Near $90K: Deribit Insights

Deribit reports that substantial options activity is preventing Bitcoin from surpassing the $90,000 mark, as traders lean towards hedging strategies.

The recent surge in options trading activity is contributing to Bitcoin's inability to break through the $90,000 threshold, according to insights from Deribit. The presence of significant open interest at critical strike prices suggests that traders are opting for hedged positions rather than seeking excessive leverage.

As market participants navigate the complexities of Bitcoin's price movements, this strategic choice to hedge is influencing the cryptocurrency's performance, effectively pinning it within a defined trading range. Observers note that this pattern could continue unless a shift in trader sentiment occurs, potentially leading to more volatile price actions in the future.