Bitcoin Options Trading Sees Put Volume Surge as Spot Price Falls to $77,404

Bitcoin traded near $77,404 following a 3.38% drop over 24 hours, amid surging demand for downside protection in crypto derivatives markets. Across all maturities, total Bitcoin options open interest stood at 287,008 contracts valued at $22.17 billion, while 24-hour trading volume favored puts over calls at 34,218 to 21,154 contracts, generating a 1.62 volume ratio. Earlier, Bitcoin hit an intraday low of $76,400, its lowest level since September 18, alongside a 2.3% drop in Nasdaq 100 futures. Open interest for the October 31 expiry reached $550.03 million with an $80,000 max-pain price.