FOMC

United

Bitcoin

<p>Following the release of the United States <a href="https://coingape.com/breaking-us-ppi-inflation-rises-more-than-expected-in-february/" target="_blank" rel="noopener">Producer Price Index (PPI) inflation data</a> for February on Thursday, March 14, Bitcoin and the wider cryptocurrency market experienced selling pressure. At the time of reporting, Bitcoin has declined by 6.95%, trading at $68,195, with a market capitalization of $1.342 trillion.</p> 
<h3 id="bitcoin-btc-investors-preparing-for-volatility-before-fomc">Bitcoin (BTC) Investors Preparing for Volatility Before FOMC</h3> 
<p>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.</p> 
<p>Risk reversals for both Bitcoin (BTC) and Ethereum (ETH) are currently skewed towards <a href="https://coingape.com/ethereum-put-options-demand-surges-eth-price-correction-soon/" target="_blank" rel="noopener">put options</a> in the near term, indicating a cautious sentiment among investors. Despite this, QCP Capital <a rel="nofollow" href="https://t.me/QCPbroadcast/1160" target="_blank">noted</a> 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.</p> 
<p>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.</p> 
<p>Despite the potential for short-term sell-offs, analysts believe that these fluctuations are unlikely to have a lasting impact on the overall uptrend, especially with the sustained demand for daily <a href="https://coingape.com/education/bitcoin-spot-etf/" target="_blank" rel="noopener">spot BTC ETFs</a>. Investors are closely monitoring market developments ahead of the FOMC meeting, which could further influence trading activity in the coming days.</p> 
<h3 id="the-shifting-market-sentiment">The Shifting Market Sentiment</h3> 
<p>Data from Greeks.Live suggests that the prevailing narrative surrounding ETF inflows appears to be undergoing a shift, as indicated by significant declines in implied volatility (IV) across all major terms in recent days. Additionally, a lack of clear direction in block options orders suggests a weakening market sentiment.</p> 
<p>Market analysts have noted that the current sentiment resembles a cooling phase, which historically precedes the start of a bull market, reported Greeks.Live.</p> 
<p>Furthermore, the Bitcoin ETF daily inflows were the lowest in March on Thursday. As per <a rel="nofollow" href="https://sosovalue.xyz/assets/etf" target="_blank">data</a> from SoSoValue, March 14 witnessed significant movements in Bitcoin spot ETFs, with notable inflows and outflows. Grayscale’s ETF GBTC experienced a substantial net outflow of $257 million within a single day. Conversely, BlackRock’s IBIT ETF emerged as the frontrunner, recording a remarkable net inflow of $345 million, contributing to its historical net inflow reaching $12.37 billion.</p> 
<p>The post <a href="https://coingape.com/bitcoin-btc-and-crypto-market-tank-7-expect-volatility-before-fomc/">Bitcoin (BTC) and Broader Crypto Market Tank 7%, Expect Volatility Before FOMC</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Bitcoin (BTC) and Broader Crypto Market Tank 7%, Expect Volatility Before FOMC

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