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Bitcoin Options Market Signals Weakness over 6 Months Amid Debt Ceiling Drama

Bitcoin's (BTC) options market is showing bias for weakness over six months for the first time since early March as the U.S. debt ceiling drama continues. The six-month call-put change, which measures the difference between what investors are willing to pay for bullish calls and bearish puts expiring in 180 days, has declined to -1, the lowest since March 13. Perhaps traders in crypto and traditional markets are starting to hedge against the U.S. 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.

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