Bitcoin options are showing that traders are betting that the largest cryptocurrency will remain mired in its current trading range in the wake of the fourth-quarter downturn that has cut more than $1 trillion in value from the digital asset market.
The largest digital token by market value slumped as much as 4.4% to $88,135 on Friday, dropping below the median of the roughly $100,000 to $80,000 range it has been trading in for the past three weeks. Bitcoin accounts for almost 60% of the entire crypto market’s total value.
