Welcome to Tech Beat, your daily look at the stories shaping the digital world.
Bitcoin traders are making a loud bet on the upside. Nearly five billion dollars in open interest has clustered around the seventy thousand and seventy-two thousand dollar call strikes on Deribit, with calls outnumbering puts by a wide margin. That kind of positioning tells you where the market's conviction sits right now.
And yet the price itself is telling a quieter story. Bitcoin settled just under sixty-five thousand dollars on Friday, holding steady even as Brent crude pushed to nearly ninety-eight dollars a barrel amid ongoing tensions with Iran. The fact that crypto shrugged off that kind of macro pressure is notable in itself.
Meanwhile, a cautionary tale from the mining side of the industry. Poolin, once the single largest Bitcoin mining pool in the world, controlling close to a fifth of the network's global hashrate, has filed for bankruptcy. The Singapore-based company now owes one hundred seventy-three million dollars and is liquidating its remaining assets. It's a reminder that proximity to a booming asset doesn't guarantee survival.
Keep surfing. Tech Beat out.
