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Bitcoin Traders Brace for Powell Speech With Hedges and Prayers

Bitcoin Traders Brace for Powell Speech With Hedges and Prayers

CoindeskEN
Author:
CoindeskEN
Release Time:
2025-05-06 12:36:29
0

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

As Jerome Powell prepares to speak, crypto markets are loading up on puts and liquidating leveraged longs—because nothing says ’sound monetary policy’ like traders gambling on central bankers’ word choices.

Short-term volatility spikes to 3-month high as BTC wobbles below $60K. ’Everyone’s hedging, no one’s happy,’ says one OTC desk trader.

The real question: Will Powell accidentally pump the market by saying ’transitory’ again?

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