According to CoinDesk, Deribit’s Chief Business Officer, Jean-David Péquignot, stated that $60,000 is a critical structural threshold for Bitcoin. Over the past year, significant institutional capital has bought Bitcoin in the $60,000 to $67,000 range; if the price declines, unrealized losses will increase, raising the cost basis for holders and potentially triggering panic selling. On Deribit, the notional value of open interest for put options with a $60,000 strike price exceeds $1.2 billion, and market makers may be forced to sell spot or futures assets due to Gamma risk, accelerating the price decline.
Deribit executive warns that Bitcoin below $60,000 may trigger panic selling.
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Summary
Bitcoin news: Deribit’s CBO Jean-David Péquignot said $60,000 is a key level for Bitcoin. Institutional capital accumulated between $60,000 and $67,000 over the past year. A drop below this level could increase unrealized losses and trigger panic selling. Put options at $60,000 on Deribit total over $1.2 billion. Market makers may sell spot or futures to manage Gamma risk, exacerbating the decline. Bitcoin analysis shows the risk of a downward spiral if support breaks.
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