Bitcoin options flows and a record gold OI suggest traders are bracing for further downside rather than a sustained recovery.

Bitcoin futures OI climbed to $42.6 billion as options data across Deribit, OKX, and Binance points to $60,000 max pain.

BTC edged up 0.6% to $59,800 to start the week while SOL rose 2%, though derivatives data and chart formations point to continued downside risk.

Bitcoin options flows and a record gold OI suggest traders are bracing for further downside rather than a sustained recovery.

The day ahead in crypto: July 3 2026