Crypto claws back some losses but derivatives markets point to more pain ahead: Crypto Markets Today

CME Puts Dominate Bitcoin Options as Traders Bet Against $60K Floor

CME institutional hedgers' puts outweigh calls ($6.33B regulated OI) with Bitcoin max pain converging at $60,000 across major derivatives exchanges. Leverage collapse ($42.6B vs $95B peak) removes liquidation cascades while weak conviction signals rebalancing inflection — September 2026 max pain at $74K becomes critical portfolio threshold.