Woofun AI reports that Bitcoin declined to $57,700, marking its lowest point since September 2024, before rebounding to $58,800. This volatility resulted in $395 million in liquidations while open interest climbed to 768,000 BTC.

On Deribit, put options traded at a premium across all maturities.Notably, a single block trade placed a bet on a Bitcoin put option with a $50,000 strike price expiring in September.