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Bitcoin Delta Bias options increased above the 7%neutral threshold, indicating a cautious feeling of merchants before the United States Fed decision.
The long -term relationship of merchants and ETF Spot tickets of $ 292 million support optimism despite the derivatives of mixed BTC.
Bitcoin (BTC) approached at the level of $ 117,000 on Wednesday, but failed to maintain their bullish impulse, since merchants weighs the possibility that an interest rate cut of the Federal Reserve already has a price.
Are Bitcoin merchants simply covering ahead of the decision of the United States Federal Reserve, or are bass bets on $ 110,000 in the midst of greater uncertainty in the demand related to AI after NVIDIA shares (NVDA) quoted 2.6% on Wednesday?
Bitcoin Delta Sesters options rose above the 7% neutral threshold on Wednesday, indicating that Put (sell) options are quoted with a premium compared to the call options (purchase). While it is not extreme, this change is generally seen in the bearish markets, in contrast to the neutral level of 5% observed earlier for the week.
Financial Times on Wednesday that China’s Internet regulator is prohibiting companies that buy certain Nvidia microchips. According to AP, the CEO of Nvidia, Jensen Huang, said in response: “I am disappointed with what I see, but they have larger agendas to solve, you know, between China and the United States, and I am understanding that, and we are patients about it.”
Bitcoin Traders Brace for the Fed Rate Decision
To determine if the highest bitcoin options coincided with greater commercial activity, one must closely examine the premiums paid effectively by market participants. Panic periods are generally marked by a strong increase in the Put-Tall premium, since merchants aggressively seek strategies to cover their positions.
The Put-Tall relationship BTC Options in Deribit is currently 71%, which reflects the low appetite for neutral positioning to load among merchants. The levels above 180% indicate an extreme fear, last observed on April 8 when the price of Bitcoin fell below $ 75,000 for the first time in five months.
These data contradict the notion of a stage of the final judgment day or excessive caution amid the uncertainty of the artificial intelligence sector and the climb of global commercial tensions. In general, the feeling of Bitcoin merchants seems to reflect mainly the anticipation of the comments of the president of the United States, Jerome Powell, after the announcement of the decision of the interest rate, instead of panic or exaggerated reaction in the market.
Related: Bitcoin Whale wakes up after 12 years, transfers 1,000 BTC before the Fed Fed meeting
The main upward merchants such as ETF Spot entrances support Bitcoin’s optimism
The long -term relationship of the main merchants of the exchanges provides a broader caliber of feeling in the market, since it includes futures, margin and spot markets.
The main positions of the merchants (bulls) in Binance and OKX increased on Wednesday compared to the previous day, which indicates optimism for Bitcoin despite the mixed signals of the BTC options markets. Indeed, whales and market manufacturers anticipated price profits, but were caught when Bitcoin fell to $ 115,540.
Net tickets of $ 292 million in the Bag (ETF) funds of Bitcoin Spot (ETF) probably supported the optimism of the operators, reinforcing the expectations of $ 120,000 and more. However, the final result will depend on the probability of a monetary policy of the United States. UU. Less restrictive and possible decallation in the debate of import rates of the United States and China.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The points of view, the thoughts and opinions expressed here are alone of the author and do not necessarily reflect or represent the opinions and opinions of Cointelegraph.
