Analysis: Cryptocurrency market volatility triggers traders to chase Tether Gold and Bitcoin put options

CycleProphet · 2026-02-23T12:16:19+00:00

Bitcoin has recently fluctuated between $64,270 and $66,300, with market liquidity remaining low. Derivatives market leverage demand is subdued, and investors are more inclined to allocate to futures linked to traditional assets. At the same time, the demand for Bitcoin put options is rising, indicating that the market still faces downside risks.

CycleProphet

2026-02-23 12:16:19

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Deep Tide TechFlow News, February 23 — According to CoinDesk, Bitcoin experienced a sharp short-term fluctuation on Monday, rebounding from $64,270 to $66,300 amid low market liquidity. In the derivatives market, leverage demand remains subdued, with total open interest in crypto futures staying below $100 billion for two consecutive weeks. Investors continue to allocate to futures linked to traditional assets, such as tokenized gold Tether Gold, whose open interest increased by 14% over 24 hours. Additionally, traders are actively pursuing Bitcoin put options, with strike prices concentrated at $58,000, $60,000, and $62,000, indicating that Trump’s tariff plans have increased market uncertainty. Put options for Bitcoin and Ethereum across various maturities are trading at a premium over call options, reflecting ongoing downside risks.

XAUT1.55%

BTC-4.78%

ETH-4.72%

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