Crypto traders are flocking to the options market to hedge against further price declines, as President Donald Trump’s planned tariff announcements next week keep financial market on edge.
The open interest, or the total number of outstanding contracts, for put options with a strike price of $80,000 is the highest among contracts expiring on April 4, or two days after Trump’s promised announcement, according to data from the Deribit options exchange. The rush into puts, which give holders the right to sell within a set period at a specific price, suggests growing demand for downside protection.