THE BLOCK · 2026-11-11 14:43 UTC

Bitcoin 'ripe for a squeeze' as options traders raise odds of sub-$70,000 Christmas

Derive's Christmas bitcoin options pricing has turned more bearish over the past week. Derive traders gave bitcoin a 15% chance of ending Christmas below $70,000 last week; the latest reading is 31%. K33 says open interest in bitcoin perpetual futures is around 353,000 BTC, up 12% over 30 days, and that bitcoin is set for a squeeze in either direction.

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