Bitcoin put options surge in demand amid higher PPI inflation data. BTC price to show volatility before March 20 FOMC meeting.
Bitcoin (BTC) Investors Preparing for Volatility Before FOMC
As the market anticipates the upcoming Federal Open Market Committee (FOMC) meeting scheduled for March 20, traders are bracing for a potentially volatile weekend. QCP Capital, a prominent trading firm, reported an increase in perpetual swap open interest over the last 24 hours, signaling heightened activity in the market.
Risk reversals for both Bitcoin (BTC) and Ethereum (ETH) are currently skewed towards put options in the near term, indicating a cautious sentiment among investors. Despite this, QCP Capital noted strong demand for year-end BTC call options with strike prices ranging from 100k to 150k, suggesting bullish expectations for the cryptocurrency’s performance by the end of the year.
Questions arise about the possibility of a short-term market dip before a potential rally towards BTC reaching 150k by year-end. Perpetual funding rates and the forward curve remain elevated, prompting QCP Capital to view spot-forward spreads as an attractive opportunity for a 20-30% risk-free trade.
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