Bitcoin Options Point to Positive Signs After Rout, Traders Say

Traders are seeing positive signs within the market in the wake of the ruckus and controversy that overtook digital-asset lenders and others in the sector. Open interest, or the total number of outstanding contracts, has come way down from its highs. Traditionally, institutions are using options for tailor risk-management solutions or to hedge portfolios or positions. Bitcoin miners are hedging their future production, a change from last year when, amid a bull market, they weren’t buying protective options. “Risk mitigation is especially worthy of consideration under current market environments,” a report from the Amber Group, a digital asset company, showed an increase in put-option buying demand after the liquidations seen over the past few weeks. Source