Bitcoin options traders scale back hedges ahead of Fed rate decision

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Bitcoin options traders are reducing their downside protection as the Federal Reserve's FOMC meeting approaches. The put/call ratio has dropped to approximately 0.52, down from 0.76 in late June, signaling a shift away from bearish positioning. The cost of short-term downside protection has also fallen sharply over the same period. Overall, the options market appears to be pricing in a relatively calm week despite the high-profile central bank decision on the horizon.

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