Federal Reserve’s tightening economic policies and on May 3, billionaire hedge fund manager Paul Tudor Jones said that the environment for investors is worse than ever because the monetary authority is raising interest rates when financial conditions are already worsening.
For these reasons, traders are increasingly concerned about the potential impact of a global macroeconomic crisis on cryptocurrency markets.
Meanwhile, if Bitcoin’s price remains below $39,000 on May 6, bears will have $100 million worth of these put options available.
On the other hand, bulls can avoid a loss by pushing BTC above $40,000, enough to net them $100 million in gains.