en.bitcoinsistemi.com
A critical week has begun for Bitcoin and altcoins, with markets awaiting the Fed’s July decision.
While the Fed is largely expected to keep interest rates unchanged, statements from Fed Chairman Kevin Warsh are anticipated to be significant for cryptocurrencies.
In this context, with the FED decision eagerly awaited, BTC options traders reduced their short-bound hedging positions ahead of the FED announcement.
Glassnode analysts noted that the put/call ratio, which was at 0.76 at the end of June and indicates measures taken against a potential decline, has fallen to approximately 0.52.
According to analysts, this sharp decline indicates that investors have stopped buying insurance against a potential pullback and have shifted course back towards upward gains.
According to Glassnode data, large investors are actively accumulating $70,000 worth of call options. This suggests that the market is strengthening its expectation of an upward movement in the Bitcoin price in the short term.
Conversely, analysts warn that if the Fed sends a message different from market expectations, volatility in Bitcoin could rapidly increase due to a decrease in defensive positions.
*This is not investment advice.