Deribit's Asia-Pacific head, Lin, reported via X that a large ETH options trade took place today involving the purchase of 10,000 ETH put options with a $2,200 strike price expiring at the end of March, for a premium of $1.249 million. Analysts believe this represents a position reduction, likely closing previously sold puts, and anticipate the investor may buy ETH in the spot market to establish a new position.

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