**Bitcoin Price Surge: Cautious Optimism Amid Economic Data**

Bitcoin (BTC) saw a 6.4% price jump on Sept. 17, breaking past $61,000 for the first time in three weeks. Despite this rally, the derivatives market shows that investor sentiment remains cautious.

- **Economic Data Impact**: The price movement mirrored the S&P 500, which hit an all-time high following stronger-than-expected US retail sales and industrial production data for August. This has increased the likelihood of a 0.50% interest rate cut by the Federal Reserve.

- **Investor Sentiment**: Despite the price surge, the BTC futures premium stabilized at 6%, indicating cautious investor sentiment. The BTC options skew metric also shows neutral sentiment, with a 25% delta skew near 2%.

- **Stablecoin Demand**: In China, demand for stablecoins remains weak, with Tether trading at a 0.3% discount, suggesting investors are cashing out.

Overall, while Bitcoin's price has risen, traders remain skeptical about sustained bullish momentum, especially with the Federal Reserve's decision looming.