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Bitcoin Faces Volatility Amid Risky Derivatives Surge

11/20/2025

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Summary

Story summary

Vetle Lunde, Head of Research at K33, says Bitcoin's derivatives market shows risky 'knife-catching' behavior as open interest rises by more than 36,000 BTC.
Bitcoin's price fell 14% over the past week, reaching an intraday low of $89,183.
Lunde warns the leverage could increase volatility and trigger liquidations amid significant ETF outflows.
Despite expectations of a recovery from institutional adoption, the drawdown may bottom around $84,000 to $86,000.

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Story summary

Vetle Lunde, Head of Research at K33, says Bitcoin's derivatives market shows risky 'knife-catching' behavior as open interest rises by more than 36,000 BTC.
Bitcoin's price fell 14% over the past week, reaching an intraday low of $89,183.
Lunde warns the leverage could increase volatility and trigger liquidations amid significant ETF outflows.
Despite expectations of a recovery from institutional adoption, the drawdown may bottom around $84,000 to $86,000.