Australian share futures turned negative after the US president reiterated his tariff-driven trade agenda. Qantas results pending. Follow updates here.
With the so-called Trump bump fading across markets, bitcoin options are showing that investors and traders are hedging against a decline in the cryptocurrency to levels last seen just after election day. The open interest, or the number of outstanding contracts, for put options with a strike price of $US70,000 is the second highest among all contracts expiring on February 28, according to data from Deribit, the largest crypto options exchange. A total of $US4.
“Tariff policies are further dampening the outlook, and stubbornly high short-term inflation expectations add to the overall caution,” said Chris Newhouse, director of research at Cumberland Labs. “The Bybit exchange hack has exerted additional downward pressure on price and negatively impacted sentiment.” Bitcoin fluctuated between gains and losses on Wednesday. Other tokens such as Ether and Solana continued to be hit harder.
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