PANews reported on February 27th that, according to CoinDesk, large Bitcoin ETF holders and treasury firms have recently been buying BTC put options with strike prices of $60,000 or less and maturities of 6 months and 1 year on Deribit as a combined insurance strategy against a price drop below $60,000. Deribit stated that open interest in BTC put options with a strike price of $60,000 has risen to approximately $1.5 billion, the highest among all strike prices and maturities on the platform, indicating a significant increase in demand for medium- to long-term downside hedging. Currently, Bitcoin spot prices are fluctuating around $67,000, but the implied volatility of 30-day put options is about 7% higher than that of call options, indicating that the options trading suggests the market still prefers downside protection.