Market data shows that a growing number of traders on Wall Street are taking defensive positions related to crypto and are bracing for Bitcoin's (CRYPTO: $BTC) price to fall below $80,000 U.S.

Options markets show that traders are placing bets that Bitcoin will be trading under $80,000 U.S. by the time the new year rolls around on January 1.

Bitcoin is currently trading at $87,250 U.S., having declined 7% this year. The largest cryptocurrency by market capitalization has fallen more than 30% in the last month.

More weakness is to be expected in coming weeks if options markets are to be believed.

Put options, which are bets that an asset's price will decline, see BTC trading in the $75,000 U.S. range to begin 2026.

It's a sharp reversal for Bitcoin, which hit an all-time high of just over $126,000 U.S. on Oct. 8 of this year.

However, the crypto market has slid steadily lower over the past six weeks due to a combination of forced sales among heavily leveraged investors and a risk-off sentiment in markets.

Options markets indicate that more volatility is likely for Bitcoin and other cryptocurrencies throughout the month of December.

MENAFN02122025007606016353ID1110425976