Deribit warns $60,000 is a critical Bitcoin support level with $1.2 billion in put options at risk.
A break below $60,000 in Bitcoin could trigger liquidations exceeding $1.2 billion in notional open interest tied to put options on Deribit. Market makers may hedge short gamma exposure by selling spot or futures, amplifying downward pressure.
The $60,000 level has been a key psychological and technical support, with elevated leverage increasing the risk of cascading long liquidations. Deribit holds significant open interest at this strike, heightening sensitivity to price movements.
No immediate market reaction was reported, but traders are monitoring the level closely amid broader macroeconomic uncertainty.