Bitcoin Traders Hedge Bets as Powell Speech Looms—Will Crypto Markets Buckle or Rally?

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2025-05-06 12:36:29

Bitcoin Traders Seek Downside Protection Ahead of Fed Chair Powell’s Comments

Fed Chair Jerome Powell’s upcoming remarks trigger defensive positioning in BTC markets, with put/call ratios spiking to 3-month highs. Traders are bracing for potential hawkish rhetoric that could slam risk assets.

Key levels to watch: $60K support holds the line—a breach could accelerate liquidations. Meanwhile, perpetual funding rates dip negative as leverage longs retreat. ’The market’s pricing in a 40% chance Powell drops a taper bomb,’ quips one OTC desk trader.

Silver lining? Crypto derivatives often front-run events, creating buy-the-dip opportunities when institutional overreaction meets retail FOMO. Just don’t tell that to the degens stacking 10x shorts.

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