Bitcoin Holds $110K, But Traders Just Bet $1.15B on Crash to $104K

Bitcoin institutional traders bet over $1.15 billion on downside protection in 24 hours with put options accounting for 28% of market transactions targeting $104,000 to $108,000 range, as one whale opened a $392 million short position with $5.7 million unrealized gains while Bitcoin holds above $110,000.