Traders bet on Bitcoin drop before FOMC, whales buy BTC
- —BTC Long/Short Ratio fell to 0.79 — a one-month low
- —A whale bought 1,075.6 BTC for 85.42 million USDC at $79,412
- —Annual US CPI inflation rose to 3.4% versus the 2% target
- —Bank of America sees a possible 75 bps rate hike
Why it matters: The buildup of short positions before the FOMC creates the risk of a sharp Bitcoin rebound if current levels hold.
Source: Comparic