Traders prepare for Bitcoin's sharp decline: surge in open interest for put options
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Traders are preparing for the continued decline of Bitcoin, leading to a weakening demand for Bitcoin ETFs. In the past 24 hours, the trading volume of Bitcoin put options has exceeded call options, pushing up the put/call ratio, indicating a bearish outlook in the short term. Bitcoin has dropped by more than 10%, and spot Bitcoin ETFs are also facing outflows. The pullback of Bitcoin contrasts sharply with the rebound in the stock market, making traders more optimistic about the Fed's interest rate cuts this year. The decline in Bitcoin may not be as severe as the previous pullback
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