By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) -The likelihood of bitcoin ending the year below $90,000 has risen to 50%, according to online options platform Derive.xyz, as traders ramped up hedging against more declines in the world’s largest cryptocurrency.

On the other hand, the options market has assigned just a 30% chance of bitcoin finishing 2025 above $100,000.

Bitcoin was last down 4.2% at $86,681.41 on Thursday, after earlier falling to a seven-month low. It rose to an all-time peak of $126,223.18 in early October. So far this year, bitcoin has fallen more than 7%, on track for an annual decline — the first since 2022.

Bitcoin has also dropped below its 50-day and 200-day moving averages and has fallen out of favor with trend-following investors, analysts said.

“The BTC pric

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