Shares of Bitdeer Technologies Group (BTDR) experienced a significant downturn during Thursday's intraday trading, plummeting 5.02%. The steep decline comes as investors react to notable bearish activity in the options market for the stock.

According to market data, Bitdeer saw unusually high put volume, with 2,015 put options changing hands. This represents nearly double the expected volume, indicating a strong bearish sentiment among options traders. The most active options were the September 26 weekly $12 puts and the August 22 weekly puts, suggesting that traders are positioning for potential further downside in the near term.

This surge in bearish options activity could be interpreted as a sign that some market participants anticipate additional challenges for Bitdeer in the coming weeks. Investors and analysts will likely be closely monitoring the company for any fundamental news or industry developments that could justify this pessimistic outlook. As always, it's important for shareholders to consider both the risks and potential opportunities when making investment decisions, especially in light of such pronounced market signals.