Friday, April 26, 2024
Home > News > Bitcoin News > Bitcoin Rally Fades After Fed Signals Upcoming Rate Hike

Bitcoin Rally Fades After Fed Signals Upcoming Rate Hike

“Short-positioned traders are dominating the derivative market. This indicates that bitcoin’s bounce was driven by [the spot market] rather than derivatives, which is confluent with the significant bidding seen on Coinbase,” Marcus Sotiriou, analyst at the UK-based digital asset broker GlobalBlock, wrote in an email to CryptoX.

Source