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Bitcoin traders are stacking downside protection ahead of next week’s February 27 options expiry, with open interest growing at lower strikes after a drawdown from last year’s highs. In particular, the $40,000 put option has grown into the second-largest strike by open interest, signaling heavy demand for insurance-style positioning as the market heads into month-end settlement.

U.S. Treasury Secretary Scott Bessent has confirmed that the department remains committed to expanding the Strategic Bitcoin Reserve established under President Donald Trump’s March executive order. The update came after earlier remarks that claimed that the Treasury would not be purchasing Bitcoin.

Financial author Robert Kiyosaki has issued a new warning about a potential “Bitcoin August Curse,” but told his followers he hopes it comes true.