Assessing if Bitcoin [BTC] traders will change their tune after FOMC

Bitcoin traders’ decision to open short or long positions could depend on the FOMC outcome. Whales have been taking profits since 17 January but the tides might change. Historically, the Federal Open Market Committee (FOMC) conclusion has had several impacts on Bitcoin’s [BTC] price. In most cases, the decision to increase interest rates leads to […]

Whales have been taking profits since 17 January but the tides might change.price. In most cases, the decision to increase interest rates leads to reduced liquidity in the market and a possible downtrend. On the other hand, the Fed’s decision to tighten the rates could help sustain BTC’s green momentum.Can’t put your money where your mouth is

However, traders have recently failed to hold a specific stance despite notable market capitalization increases all around the market.The above image indicated that long positions held by traders earlier had subdued. While shorts have not taken over, traders’ sentiment evidently showed that they were not expectant of an immediate green recovery.that over $14 million worth of BTC had been liquidated in the last 24 hours. However, the wipeout was not a close call between longs and shorts.

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