The open interest for $80,000 Bitcoin put options on Deribit has reached 10,278 contracts, worth over $860 million.

Open interest in $80,000 Bitcoin put options on Deribit has reached 10,278, worth about $864.26 million, according to Odaily data, and analysts believe traders are looking for downside protection amid economic uncertainty and potential trade tensions. Later on Wednesday, Trump is expected to announce sweeping tariffs on his trading partners, which could lead to a full-blown trade war and leave Bitcoin traders chasing downside protection. （CoinDesk）