Bitdeer's 10.9% Plunge: A Volatile Descent Amid Crypto Sector Turmoil

Summary
• Bitdeer Technologies (BTDR) slumps 10.9% intraday to $12.79, hitting a 52-week low of $5.40
• Coinbase (COIN) declines 5.7%, amplifying sector-wide crypto selloff
• Technicals show RSI at 57.71 and MACD histogram rising at 0.0812

Bitdeer Technologies’ stock has plunged over 10% in a single trading session, a dramatic move that has drawn attention from traders and analysts alike. The selloff coincides with broader weakness in the blockchain sector, led by Coinbase’s 5.7% decline. With technical indicators hinting at bearish momentum and regulatory uncertainty looming, the market is scrambling to decipher the catalysts behind this volatility.

Regulatory Uncertainty and Sector Weakness Weigh on Bitdeer
Bitdeer’s 10.9% intraday drop aligns with a broader retreat in the blockchain sector, driven by renewed regulatory scrutiny and macroeconomic headwinds. While no company-specific news was disclosed, the stock’s collapse mirrors Coinbase’s 5.7% decline, suggesting sector-wide pressure. Technical indicators reinforce bearish momentum: the RSI (57.71) remains below overbought levels, and the MACD histogram (0.0812) shows waning bullish momentum. The stock’s breakdown below the 200-day MA ($13.64) and key support levels ($12.96–$13.02) has triggered algorithmic selling, compounding the selloff.

Crypto Sector Suffers as Coinbase Drags Down Blockchain Stocks
The blockchain sector is under pressure, with Coinbase’s 5.7% decline amplifying fears of a broader correction. Bitdeer’s 10.9% drop far outpaces COIN’s selloff, indicating heightened vulnerability in smaller-cap crypto plays. While COIN remains a relative outperformer, the sector’s underperformance reflects investor caution ahead of potential regulatory updates and macroeconomic data releases. Bitdeer’s technical breakdown has exacerbated sentiment, creating a self-reinforcing cycle of selling.

Options Playbook: Capitalizing on Volatility with BTDR Puts
• 200-day MA: $13.64 (below current price)
• RSI: 57.71 (neutral to bearish)
• Bollinger Bands: $11.82–$15.24 (price near lower band)
• MACD: 0.1343 (bullish signal fading)

Bitdeer’s technical profile suggests a high-probability short-term reversal near $12.90, with key support at $11.82. Traders should monitor the 200-day MA ($13.64) as a critical reentry level. The options chain offers compelling bearish exposure:

• BTDR20250829P12.5 (Put, $12.50 strike, 2025-08-29):
- IV: 80.56% (elevated)
- Leverage: 25.90% (moderate)
- Delta: -0.3699 (moderate sensitivity)
- Theta: -0.0102 (slow decay)
- Gamma: 0.2084 (high sensitivity)
- Turnover: 3,376 (liquid)
This contract offers amplified downside exposure with manageable time decay. A 5% drop to $12.255 would yield a payoff of $0.245 per share, amplified by 25.90% leverage.

• BTDR20250829P13 (Put, $13 strike, 2025-08-29):
- IV: 76.15% (moderate)
- Leverage: 18.50% (conservative)
- Delta: -0.4813 (high sensitivity)
- Theta: -0.0037 (minimal decay)
- Gamma: 0.2328 (extreme sensitivity)
- Turnover: 2,770 (liquid)
This put benefits from high gamma, making it ideal for volatile price swings. A 5% drop would generate a $0.745 payoff, boosted by 18.50% leverage.

Aggressive bears should prioritize BTDR20250829P12.5 for its balance of leverage and liquidity. If $12.90 holds, consider scaling into the P13 put for a safer, high-gamma play.

Backtest Bitdeer Stock Performance
The backtest of BTDR's performance after an intraday plunge of at least -11% shows favorable short-to-medium-term gains. The 3-Day win rate is 53.08%, the 10-Day win rate is 55.43%, and the 30-Day win rate is 60.70%, indicating a higher probability of positive returns in the immediate aftermath of such events. The maximum return during the backtest period was 20.96% over 30 days, suggesting that BTDR can experience significant gains in the months following a substantial intraday decline.

Act Now: Bitdeer’s Support Levels and Options Volatility Signal Key Turning Point
Bitdeer’s 10.9% drop has created a critical inflection point, with support at $11.82 and resistance at $13.64 defining the near-term range. The options chain’s elevated volatility and liquidity suggest a high probability of continued consolidation or a sharp rebound. Traders should watch Coinbase’s performance as a sector barometer and prioritize BTDR20250829P12.5 for bearish exposure. A break below $12.90 could trigger a test of the 52-week low, while a rebound above $13.64 may signal a short-term bottom. Act decisively on the 200-day MA breakout or breakdown. Coinbase’s -5.7% decline underscores the sector’s fragility—position now to capitalize on the next move.