A whale bought $1.02 million worth of Bitcoin put options with an exercise price of $41,000 at the end of February.
Deribit's Asia-Pacific business leader Lin Chen wrote on X platform that a whale on Deribit spent $1.02 million to buy put options for Bitcoin at the end of February with a strike price of $41,000, and sold put options for $36,000 at the end of February. This operation may suggest that the whale believes "the market will continue to fall in the near future, but will not drop below $36,000."
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