Traders Cut Bitcoin Positions by 13.5% Ahead of Fed Meeting and CLARITY Act Vote
- —BTC open interest fell 13.5% from September 3 to 11
- —Positions are 20% below the level before the mid-August rally
- —The market prices an 86% probability of a Fed rate hike
- —CLARITY Act vote: if it fails, the next chance may only come in 2030
Why it matters: Lower leverage reduces the risk of cascading liquidations, but the outcome of the week will set the market's direction for months ahead.
Source: Crypto Insiders