Traders are buying put options to protect against Bitcoin's potential further price drops, influenced by Fed policy.
The crypto market is showing a strong bias towards protecting against a drop in Bitcoin (BTC) prices, with put options trading at their highest premium since September, according to Amberdata. This shift follows the Federal Reserve's recent interest rate cut and Chairman Jerome Powell's cautious remarks, which led BTC prices to fall from $105,000 to under $99,000. Traders are hedging against further declines due to potential hawkish Fed policies.
3 months ago
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