How Big Bitcoin Traders Responded Following the Binance Hack
Key Highlights: Institutional options desk Paradigm facilitated approximately $590 million in notional Bitcoin options blocks within an eight-hour window following a security hack, representing about half of Deribit’s total block volume during the timeframe. Market flows showed heavily bearish positioning, led by high-conviction hedging via put options with strike prices near spot levels—primarily between $74,000 ...