Traders Anticipate Bitcoin and Ethereum Downturn Amid Rising Put Option Activity

According to PANews and Derive data from The Block, unchanged Fed interest rates have contributed to a cautious market sentiment. Traders are favoring put options for Bitcoin and Ethereum expiring on August 29, with Ethereum puts exceeding calls by over 10% at strike prices of $3,200, $3,000, and $2,200, while Bitcoin put options are nearly five times the call volume at strikes of $95,000, $80,000, and $100,000. Derive estimates a 25% probability for Ethereum falling below $3,000 and an 18% probability for Bitcoin dropping below $100,000.

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