Deribit block options trade prices in BTC dip by late January and rebound above $90,000 in February

A large BTC options block trade on Deribit on December 9 saw a user buy $90,000 strike put options expiring at the end of January and sell $90,000 strike put options expiring at the end of February, with both legs sized at 375 BTC, according to data shared by a Deribit official. The Deribit representative said the structure reflects a view that Bitcoin could weaken into late January but recover to levels above $90,000 in February. The representative added that some users are positioning for downside in January due to the risk of being removed from the Strategy index at the start of the month, while still maintaining a clearly constructive outlook on the market from February onward.