Crypto Options Gain Traction as Traders Hedge Against the Market Sell-Off
Crypto market prices plummeted on October 10 after Trump announced plans to introduce higher tariffs on Chinese goods. The prospect of a potential trade war sparked an industry-wide sell-off, with institutional activity also decreasing, as evidenced by reduced investment in digital asset treasuries compared to the preceding weeks and months.
Coinbase’s Global Head of Investment Research, David Duong, recently said, “BTC digital asset treasury companies (DATs) have largely ghosted the post-Oct 10 drawdown and are yet to re-engage.”
However, the BTC price seems to suggest a long-term bullish sentiment after finding support at about $106,286, as demonstrated using the 38.2% Fibonacci Retracement level.
The Bitcoin price has now…
