Bitcoin experienced a sharp price drop of about 7.3% early October, prompting traders to buy bearish options for downside protection, with puts making up 53.5% of options volume this week. Despite this short-term bearish sentiment, longer-term open interest remains bullish, with calls representing 60% of total open interest and targeting higher strike prices like $95,000. The shift reflects institutional demand for hedging amid market volatility and upcoming events like the FOMC minutes. Traders should watch the October 16 expiry closely, where the put-to-call ratio is 1.43, indicating heightened demand for protective puts around $76,000 to $80,000 strikes.
Bitcoin's options activity is highlighted here with bearish puts making up 53.5% of volume this week. For readers following the broader cryptocurrency market, here is Pluang's market snapshot as of Oct 13, 2026 05:02 WIB: out of 50 major cryptocurrencies priced on Pluang, 5 rose and 44 fell today. Notable movers include BAL at Rp16.297 (+11.14%), EOS at Rp12.649 (+8.13%), and THETA at Rp3.693 (-8.11%) with 100% buy order activity. The most notable figure is the 53.5% bearish options volume for Bitcoin this week.
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