Bitcoin options traders pile into downside hedges targeting $52,000

Bitcoin traders are ramping up bearish positioning as prices slide, buying put options that would pay out if BTC falls as far as $52,000 in the coming weeks. Recent flow has concentrated in short- and near-dated contracts on Deribit across expiries from June 22 to July 31, according to Laevitas. The surge in out-of-the-money puts points to worsening risk sentiment amid a hawkish Federal Reserve, a stronger dollar and rising pressure on Strategy.