Whale Places Bearish Bet on Bitcoin with Over 2,000 Put Contracts

A large Bitcoin investor has placed a significant bet against the cryptocurrency, buying over 2,000 put contracts targeting a price drop below $66,000.

This move comes as $2.15 billion in BTC and ETH options expire on Deribit today, with the whale's position suggesting that they see downside risk in the current price range.

According to analytics platform Greeks.live, the investor had previously closed a profitable long trade, exiting above $68,000 before quickly pivoting bearish. This rapid reversal suggests that the investor views the $66,000–$68,000 zone as a resistance ceiling rather than a launchpad for further price increases.