Bitcoin is in free fall — and traders are positioning for more pain.

The world’s largest cryptocurrency plunged below $90,000 on Tuesday morning during Asia trading, deepening a selloff that’s erased all of its gains for the year. In the options market, traders are making increasingly bearish wagers, on the conviction that the slide is far from over as deep-pocketed buyers beat a retreat.

The shift in sentiment has been swift and sharp. Demand for downside protection at the $85,000 and $80,000 levels has surged. Protective options expiring later this month are seeing especially heavy activity, according to data from Coinbase-owned Deribit. Show Full Article

After riding Bitcoin to the highs just weeks ago, traders have snapped up more than $740 million worth of contracts betting on cont

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