PANews reported on August 6th that with the Federal Reserve leaving interest rates unchanged, traders have shifted to bearish positions in Bitcoin and Ethereum options, focusing on key strike prices.
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.