Greeks.Live: Option data shows that some traders are starting to buy put options to hedge against the risk of BTC's decline.

BlockBeats reported on February 28th that Bitcoin broke through $59,000 today, with a monthly increase of 40%. Greeks.Live stated that some traders are buying a large number of put options below $50,000, which may be to protect profits for spot holders. In the past 24 hours, Greeks.Live has seen over 50 bulk orders with a nominal value of over $5 million, and some of the largest orders are actively opening positions to buy deep out-of-the-money put options. According to Greeks.Live, this market phenomenon is relatively rare and only occurs occasionally in some large-scale bull markets driven by spot. Spot holders buy put options to protect profits.