A whale accumulated more than 2,000 Bitcoin (BTC) put contracts overnight, targeting a move below $66,000, just as over $2. 15 billion in Bitcoin and Ethereum (ETH) options settle on Deribit today, April 3. The back-to-back repositioning signals that at least one large player sees downside risk in BTC’s current price range, even as call open interest still outnumbers puts across both assets. Why the Whale Trade Matters Options analytics platform Greeks