Bitcoin Options Traders Bet on Stability Ahead of Fed Decision

Bitcoin options traders have reduced their protective positioning ahead of this week's U.S. Federal Reserve meeting, signaling growing confidence in near-term price stability.

Data from Glassnode shows that the put-to-call open interest ratio has dropped to around 0.52, down from approximately 0.76 in late June. This shift indicates investors are cutting back on downside hedges rather than adding to them.

Large market participants have accumulated call options at the $70,000 strike price and established bull call spreads, suggesting expectations of further upside in the spot price. Bitcoin was trading near $65,000 for much of the past week.