Tariff uncertainty resurfaces, Bitcoin options market bets on downside risks

With the U.S. Supreme Court rejecting President Trump's previous emergency tariff measures, Trump immediately announced the reactivation of a temporary tariff of up to 15% based on other trade laws, increasing trade uncertainty and putting pressure on risk appetite in the cryptocurrency market.

Data from the options trading platform Deribit shows a significant increase in open contracts for put options on Bitcoin with strike prices of $58,000, $60,000, and $62,000, indicating that traders are hedging potential downside risks by buying put options. Put options are typically used to provide protection when prices fall. Market analysis suggests that the repeated imposition of tariff policies, combined with macroeconomic uncertainty, may continue to exert pressure on risk assets, including crypto assets.