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 dropping from 0.76 to approximately 0.52. Short-term options indicate that traders demand less near-term protection compared to options with 3- to 6-month maturities, suggesting they expect a relatively calmer market this week while still hedging against volatility later in the year. Implied volatility across all tenors remains low, and the term structure slopes upward. If the Federal Reserve's interest rate decision or projections on Wednesday exceed investor expectations, there is limited room for market cushioning. (CoinDesk)