Bitcoin (BTC) options traders concentrated their short-term activity on downside protection and bearish bets, with a $74,500 put emerging as the most actively traded contract over the past 24 hours—an indication that near-dated hedging demand is rising as the market assesses near-term price risk. Data compiled by Coinglass as of April 22 (00:00 UTC) showed total Bitcoin options ‘open interest’ (OI) at $39.35 billion, up about 2.53% from $38.38 billion a day earlier.
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