Bitcoin Traders Bet Heavy on BTC's Drop to $80K

Summary

Bitcoin fell below $91,000 as President Trump's tariff threats against Europe weighed on global markets. Options data from Derive.xyz shows a 30% probability BTC drops below $80,000 by June, versus only a 19% chance of rallying above $120,000. Derive and Deribit put open interest is concentrated at $75,000-$80,000 strikes, suggesting traders expect a drawdown into the mid-$70,000s. BTC traded around $90,500 at the time of the report.

• Bitcoin slipped below $91,000 amid tariff threats and geopolitical tension.
• Options markets are showing bearish sentiment for BTC.
• Derive.xyz data implies a 30% chance BTC falls below $80,000 by June.
• Only a 19% chance is seen for BTC above $120,000 in the same period.
• Put open interest is concentrated at $75,000-$80,000 strikes on Derive and Deribit.
• The positioning implies expectations of a drawdown into the mid-$70,000s.
• BTC traded around $90,500 as of the report.