Bitcoin investors are preparing for further price declines as hedging activity increases. Bitcoin options data indicates that investors are positioning themselves against a potential drop to $70,000, a level not seen since shortly after the U.S. election. The decline in Bitcoin's price since Donald Trump took office, coupled with concerns about high inflation and the recent Bybit exchange hack, has contributed to the market's caution. Ethereum has been particularly impacted by the hack, leading to increased volatility. In this uncertain environment, many investors are opting to exit cryptocurrencies and wait for a new catalyst to reverse the downtrend.



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