Binance futures trading volume has seen a massive increase across major assets. Meanwhile, Deribit options data indicate that traders are adopting protective strategies, notably through heavy put purchases and large-scale call selling by entities. Together, this suggests that the market is entering a high-volatility phase, where the next move is likely to be large, and options traders are leaning defensively. Crypto Derivatives Traders Position for Big Move With Futures and Puts Activity The cryptocurrency derivatives market witnessed a notable shift in late November
source: https://beincrypto.com/crypto-derivatives-market-binance-futures-november-2025/