Bitcoin derivatives highlight traders’ nervous view as the Federal Reserve holds interest rates and BTC struggles to trade above its range highs. Are the bears back?
Key takeaways:
Bitcoin (BTC) faced rejection at $77,800 on Wednesday, then retested the $76,000 level. This movement followed a correction in the S&P 500 Index as the war in Iran reached its 60-day mark, driving crude oil prices toward $118. While demand for leveraged bearish Bitcoin futures positions increased, the long-to-short ratio of whales at major exchanges indicates a different trend.
