🧱 $BTC Options Market Signals Major $40K Battle

A powerful defensive zone is emerging in the Bitcoin options market — and it’s drawing serious attention.

Nearly $490M in open interest is stacked at the $40,000 put strike for the Feb 27 expiry, marking one of the largest downside hedges currently in place.

At the same time, around $566M sits near the $75,000 max-pain level, where most options would expire worthless.

While call positions still dominate overall sentiment, this growing $40K protection layer suggests underlying caution.

Smart money isn’t only targeting upside — it’s actively hedging risk.

👉 Is this simply strategic protection… or are whales positioning for a volatility shock?

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