Crypto Derivatives Risk Appetite Plunges As ETF Outflows Hit Bitcoin

Crypto Insight Summary:  · Posted in[Crypto News](https://bitcoinist.com/category/cryptocurrency-news/crypto-news/) **TL;DR** * [Deribit](https://insights.deribit.com/industry/crypto-derivatives-analytics-report-week-24-2026/) Insights, using Block Scholes analytics, says crypto derivatives risk appetite fell sharply after a near-20% spot market drop last week. * The Risk Appetite Index dropped below 0.05, while BTC options skew recovered from much deeper bearish levels. * The report says the move coincided with the longest spot Bitcoin ETF outflow streak since launch. * ETH funding rates have traded negative since June 5, pointing to bearish perpetual swap positioning. Crypto derivatives traders have pulled back sharply after last week’s sell-off, with Deribit Insights reporting that Block Scholes’ Risk Appetite Index fell significantly below 0.05 as spot markets tried to stabilize above $60,000. The June 11 analytics report described a market still absorbing the effects of a near-20% spot price decline. While Bitcoin has since consolidated above the $60,000 region, derivatives positioning suggests traders are not rushing back into aggressive upside exposure. [BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?](https://bzstarz.com/b1326adec) The report also discussed corporate treasury activity around Strategy Inc., noting both a small 32 BTC sale disclosure and a later announced purchase of 1,550 BTC worth $103.1 million. According to the report, BTC 25-delta risk reversals were just short of -9%, recovering from around -19% five days earlier when spot broke below $60,000. Crypto Insight Analysis: Direction: Bearish BTC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: ETF outflows and negative derivatives sentiment signal short-term bearish pressure on Bitcoin.