Bitcoin options traders reduce downside hedging ahead of Fed meeting

According to Odaily, Bitcoin options traders have significantly reduced their downside hedging since late June, with the put/call open interest ratio falling from 0.76 to approximately 0.52. Short-term options indicate that traders require less near-term protection compared to options with 3- to 6-month maturities, suggesting they anticipate a relatively calmer market this week while still hedging against volatility later in the year. Implied volatility remains low across all maturities, and the term structure is sloping upward for future dates. If the Fed's interest rate decision or forecasts on Wednesday exceed investor expectations, there is limited cushion in the market. (CoinDesk)