Analysis: Hedging activity surges near Bitcoin put options at $80,000

CoinDesk analyst Omkar Godbole writes that hedging activity has surged near the $80,000 put option level for Bitcoin, suggesting a potentially challenging trading environment in the short term. From a macro perspective, the strong performance of 10-year Treasury bonds, a traditional safe-haven asset, has served as a warning to other risk assets, including stocks. However, the situation could change before the end of the year, especially if the Federal Reserve cuts interest rates by 25 basis points as expected early next month, sending a clear dovish signal. (CoinDesk)