Cryptocurrencies
Hedge Funds Pile Back Into Crypto Call Options After ‘Horrific’ Liquidations
- Coinbase sees soaring demand for Bitcoin, data shows
- Offshore exchanges still see elevated hedging with put buying
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Crypto traders are piling back into optimistic bets in the options market almost immediately after one of the worst liquidations of bullish positions this year over the weekend.
Traders from both offshore exchanges and US over-the-counter desks are buying calls that gives them the option to buy Bitcoin at $90,000 and more later this year, according to market participants.