A large bitcoin (BTC) options bet crossed the tape on Deribit as the first quarter drew to a close on Monday, revealing bearish sentiment from the trader behind the move. The so-called block trade carried a premium of more than $1 million for 1,180 …

SOL put options accounted for most of the block trades that crossed the tape on Deribit last week.

Macro jitters have pushed back BTC to where it was a week ago. Still, bullish bets in options market remain as popular as ever.

“It looks like bitcoin options traders appear to be hedging their bets to the downside ahead of the U.S. election this week,” one observer said, noting pricier puts on the CME.