Ahead of Federal Reserve Chair Jerome Powell's comments that may signal a June rate cut, Bitcoin traders are actively seeking downside protection in the options market. This behavior indicates a cautious stance among traders who anticipate potential volatility in the market. The demand for put options has notably increased, as traders look to hedge their positions against any adverse price movements following Powell's statements. This strategic move highlights the ongoing uncertainty in the economic environment, particularly regarding monetary policy adjustments and their implications for cryptocurrency markets. Traders are closely monitoring these developments, reflecting broader market sentiments and the influence of traditional financial policies on digital asset valuations.

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