Odaily Planet Daily News: The Bitcoin options market shows mild risk aversion ahead of Federal Reserve Chairman Jerome Powell's upcoming speech on a possible rate cut in June. According to Deribit CEO Luuk Strijers, although the market generally expects interest rates to remain unchanged this week, there has been only a slight demand for protective put options, reflecting the limited caution of senior traders.
Currently, the spot price of Bitcoin has fallen back to about $94,000, and Deribit's implied volatility index DVOL is at 45, the lowest point since June 2024, indicating that market sentiment is biased towards mild risk aversion. At the same time, traders on the decentralized trading platform Derive.XYZ bought put options with strike prices of $82,000, $78,000 and $76,000, showing concerns that the Federal Reserve may not cut interest rates or even raise them. Although market expectations for a rate cut in June have fallen to 30%, Bank of America believes Powell may keep an open mind on future rate cuts in his speech, emphasizing that policy will depend on upcoming economic data. (CoinDesk)