Bitcoin's Future Uncertain as Options Market Signals Weakness Amid Debt Ceiling Drama.
Bitcoin's options market is showing a bias for weakness over six months for the first time since early March as the US debt ceiling drama continues. The development is consistent with the recent flows in the S&P 500 market that show traders paying up for put volatility. Traders in crypto and traditional markets are starting to hedge against the US debt ceiling risks, considering Congress is struggling to raise the $31.4 trillion borrowing limit with less than a week until the government runs out of money to meet obligations.