Bitcoin’s 2023 Crisis Levels Hit as Trade War Escalates: New Bybit/Block Scholes Report

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released a new weekly crypto derivatives report in collaboration with Block Scholes. The report sheds light on Bitcoin’s struggle to hold ground against mounting macroeconomic headwinds as the Trump administration intensifies the trade war. Despite bullish sentiment from the DeFi sector, the escalating trade disputes are dampening market confidence. Bybit data reveals that options trading strategies have shifted towards put-related protection amid growing concerns regarding short-term volatility.