Deribit's Asia-Pacific business leader Lin Chen wrote on X platform that a whale on Deribit spent $1.02 million to buy put options for Bitcoin at the end of February with a strike price of $41,000, and sold put options for $36,000 at the end of February. This operation may suggest that the whale believes "the market will continue to fall in the near future, but will not drop below $36,000."

According to Coinglass data, the open interest of Bitcoin options has reached a new historical high of about $20 billion, indicating an increase in liquidity and market participants. Within the past 24 hours, the majority of options traded were call options, with 60% being call options and only 40% being put options. Call options give traders the right, but not the obligation, to buy the underlying asset at a set price before the expiration date. It is generally believed that traders who buy call options are bullish on the underlying asset, while put option buyers are bearish.

According to Coinglass data, the open interest of Bitcoin options has reached a historical high of about 20 billion US dollars. The increase in open interest indicates higher liquidity and more market participants.

According to data from Deribit, in the past 24 hours, the open contracts of Bitcoin options on Deribit have reached a historic high of over $15 billion, indicating higher liquidity and more market participants. Deribit's Chief Commercial Officer, Luuk Strijers, said, "The total amount of open contracts for Bitcoin options has exceeded that of Bitcoin futures for the first time, marking the maturity and increasing maturity of the market." Although higher open contracts may indicate greater interest in specific assets and increased market activity, it cannot provide information on market direction or general sentiment of bullish or bearish.