Analysis: Traders are hedging against the risk of BTC prices falling to the $100,000 level.

As geopolitical and economic uncertainty in global financial markets rises, traders are hedging against the risk of prices falling back to the $100,000 mark. Trading data shows a surge in demand for put options (a downside protection instrument that gives holders the right to sell at a specific price), especially for short-term contracts. Among options expiring on June 20, $100,000 put open interest topped the list, with a put/call ratio of 1.16, highlighting the market's concerns about short-term declines. The cautious sentiment stems from the highly uncertain environment faced by Fed policymakers – geopolitical tensions and energy price volatility in the Middle East, combined with inflation and labor market risks from the Trump administration's tariff policy. As the Federal Reserve expects to keep interest rates unchanged for the fourth consecutive time late on Wednesday, the focus will turn to its latest forecasts for economic growth, unemployment and interest rates. （Fortune）