Bitcoin flashes 8 capitulation signals, but traders just spent $552 million protecting against another crash

According to CryptoSlate, a significant number of Bitcoin capitulation indicators are currently active, suggesting that the market may be nearing the end of its selloff. Despite a stable trading environment, options traders are showing increased concern as they have invested heavily in downside protection, reflecting a cautious sentiment amidst ongoing macroeconomic challenges. Notably, while Bitcoin’s price remains around $65,000, traders spent $552 million on protective puts, demonstrating their fear of a potential downturn. Read the full story at CryptoSlate . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human writing — new writers keep 100% of tips and collects for their first 90 days.