Cryptocurrency investors are taking precautions against a possible decline in Bitcoin while the decision on the ETF is awaited.
Luuk Strijers, CCO of derivatives exchange Deribit, “Put options are overbought and call options are being sold, indicating that the market is trying to hedge against possible declines in price.” said.
Investors use put options to profit from or protect themselves against declines in the price of Bitcoin.
Citing the saying “buy the rumor, sell the news,” some analysts have speculated that spot ETFs may be losing ground on Bitcoin price. may not have the expected effect says.
According to some, spot exchange traded funds are Bitcoin’s to a larger investor base will enable it to appeal. Standard Chartered analysts published a report earlier this week saying Bitcoin ETFs Money flow between 50 and 100 billion dollars this year He said it could happen.