Bitcoin (BTC) has been buying and selling between $60,000 and $70,000 (USD) for 3 weeks as of February 27, 2026, however institutional buyers within the derivatives market are bracing for a doable worth decline under this sturdy psychological threshold.
“Change traded fund holders and company treasuries are shopping for six-month and one-year put choices with strike costs of lower than $60,000 as insurance coverage for his or her portfolios,” Jean-David Pequignau, director of the Deribit Derivatives Platform, advised reporters.
This assertion comes in opposition to the backdrop of roughly $1.5 billion in open curiosity on $60,000 put choices. it’s, Highest buying and selling quantity amongst all strike costs Platforms differ in maturity as proven within the following graph.
A put possibility means that you can promote Bitcoin at a pre-set worth even whether it is buying and selling under that worth. On this sense, they act as draw back safety for buyers who purchase them. The Deribit trade concentrates roughly 80% of crypto choices buying and selling, so its exercise displays market technique.
The burden of Bitcoin’s institutional buyers partly explains this elevated protection. U.S. spot ETFs maintain about 1.26 million BTC, or about 6% of the availability. Then again, listed corporations maintain roughly 1.14 million BTC, which is 5.7% of the entire.
Though Bitcoin’s worth has rebounded to $70,000 this week, Pequinho identified that: Demand for protection continues. 30-day places nonetheless commerce with about 7% extra volatility than calls. This “means that the sensible cash continues to pay for draw back safety quite than chasing the upside,” he mentioned.
Due to this fact, the chief added that approaching the $60,000 stage is feasible. This might result in possibility promoting, which may put downward strain on BTC worth.. This course of permits buyers to rebalance their publicity in the direction of a impartial place.
There are lots of bearish expectations for BTC
This positioning is Bitcoin is buying and selling nearly 50% under its all-time excessive This peak was recorded the yr after the latest halving. Traditionally, this era marks the top of a bullish cycle and the start of a significant correction of almost 80%.
As reported by CriptoNoticias, it’s estimated that this sample may result in a continuation of the bear market, additionally motivated by the macroeconomic state of affairs. The unpredictability of President Donald Trump’s tariff coverage and the uncertainty of whether or not rates of interest will fall are inflicting danger aversion out there.
On this context, prediction markets are growing bets on a doable drop in the direction of $40,000. Then again, analysts like Willy Wu argue that: The underside of this bearish pattern may happen within the fourth quarter of 2026amounting to roughly $45,000.
Nevertheless, Wu warns {that a} sturdy correction in international markets may trigger Bitcoin to fall to ranges as little as $30,000 or $16,000, which have been the bearish backside of the 2022 crypto winter.
Nonetheless, long-term bullish expectations stay as a result of asset shortage and institutional investor curiosity. Bitcoin has plans to scale back its issuance each 4 years via a halving, making it simpler to rally within the face of demand. Due to this fact, many contemplate it digital gold.
