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Bitcoin Hedging Ramps Up as SEC’s ETF Approval Deadline Nears
Bitcoin options traders are already locking in profits even before the Wednesday deadline by which the US Securities and Exchange Commission must decide if it will allow an exchange-traded fund to directly hold the digital asset. Market participants have seen a surge in the selling of short-term call option contracts over the last 24 hours. The put-to-call ratio for the contracts that will expire on Jan. 19 is now above 1 — much higher than two weeks ago, according to data compiled by Deribit, the largest crypto options exchange. Bitcoin has jumped over 8% so far this year. It suddenly tumbled to around $45,000 ... (full story)