#BTC Professional traders increased bullish bets ahead of the Fed's decision on interest rates

The Bitcoin options market reflects caution, while prominent traders increased their bullish positions as optimism grows over a rate cut by the Federal Reserve

The delta deviation of Bitcoin options surpassed the neutral threshold of 7%, indicating cautious sentiment among traders ahead of the U.S. Federal Reserve's decision.

The ratio between long and short positions of prominent traders and the USD 292 million in incoming flows into spot ETFs support optimism, despite mixed results from BTC derivatives.

Bitcoin

BTC

€99,544

approached Wednesday the level of USD 117,000, but failed to maintain its bullish momentum as traders weighed the possibility that the Federal Reserve's interest rate cut was already priced in. Market sentiment was further clouded by speculation about additional restrictions on the sale of artificial intelligence microchips to China.