A whale bought put options on Bitcoin with a strike price of $41,000 at the end of February, worth $1.02 million

Deribit's Asia-Pacific Business Director, Lin Chen, posted on X platform that a whale on Deribit spent $1.02 million buying put options for Bitcoin at a strike price of $41,000 expiring in late February and sold put options at a strike price of $36,000 expiring in late February. This action may imply that the individual believes "the market will continue to decline in the near term but not below $36,000."