Los traders de cripto miran a la Fed mientras Bitcoin se mantiene en rango
Bitcoin se mantiene atrapado en un rango estrecho mientras los traders buscan señales de la Fed.
La espera continúa
Los mercados cripto contienen la respiración ante cada declaración de la Reserva Federal. Las políticas monetarias siguen dictando el sentimiento del mercado, manteniendo a Bitcoin en un patrón lateral que frustra a bulls y bears por igual.
El juego de la Fed
Cada palabra de los funcionarios de la Fed se analiza con lupa. Los traders escanean comunicados y discursos buscando pistas sobre tasas de interés e inflación. Mientras tanto, Bitcoin oscila entre niveles clave sin una dirección clara.
Los grandes players esperan
Los whales institucionales mantienen sus posiciones a la espera de mayor claridad macroeconómica. El volumen se contrae mientras el mercado aguarda el próximo movimiento de la Fed. La paciencia se convierte en el activo más valioso.
Porque al final, incluso en la descentralización, todos terminamos mirando al mismo banco central. La ironía no escapa a nadie.
Bitcoin stalls ahead of Powell
For now, momentum has clearly stalled. BitMEX co-founder Arthur Hayes, in an X post, stated, “Will Jay cut and become Trump’s twink, or choose violence becoming Volker 2.0?” He added that “I want no cut bc it forces Trump get funky w/ the brr btn. Just like Bad Gurl Yellen in 2022 issues more bills than bonds to drain the RRP after Powell refused to cut.”
Derivatives markets show nerves are rising. On Deribit, the put-to-call ratio for August contracts has climbed to 1.31, with $3.8 billion set to expire Friday. Traders are piling into $110,000 puts, effectively betting that the next move is lower. Skew has jumped to four-month highs, a clear sign that demand for downside protection is on the rise.
🚨 Options Expiry Alert 🚨
At 08:00 UTC tomorrow, over $4.8B in crypto options are set to expire on Deribit.$BTC: $3.83B notional | Put/Call: 1.31 | Max Pain: $118K$ETH: $948M notional | Put/Call: 0.82 | Max Pain: $4,250
BTC expiry tilts put-heavy, while ETH call interest… pic.twitter.com/AGuHa2Txxs
— Deribit (@DeribitOfficial) August 21, 2025
Bitcoin is rolling down after touching a record $124,000 in mid-August. BTC price is down by 5% in the last 7 days despite being up by 21% on YTD. Bitcoin is trading at an average price of $112,926 at the press time. However, Ether has managed to claw back some ground. The biggest altcoin is running up by 17% over the last 30 days while losing 7% over the past 7 days.
Dovish Powell could spark a rebound
ETF flows have added another layer of pressure on the crypto market. After weeks of huge inflows, Bitcoin funds bled nearly $1 billion this week, while Ether products lost more than $550 million. The selling was largely profit-taking and liquidations after Bitcoin’s August peak.
All of it leaves Powell’s remarks as the next catalyst. Traders say a dovish signal could spark a sharp rebound, but if Powell doubles down on inflation risks, the pullback could easily deepen. The Fed’s minutes this week made clear that officials still see price pressures as outweighing employment concerns even as new Trump tariffs loom.
Trump himself has repeatedly blasted Powell for dragging his feet on cuts. Treasury Secretary Scott Bessent has even suggested Trump could name a replacement before year-end, making this likely Powell’s swan song at Jackson Hole.
Federal Reserve officials have reportedly signaled caution ahead of Jerome Powell’s Jackson Hole speech, casting doubt on a September rate cut. Cleveland Fed’s Beth Hammack and Kansas City’s Jeffrey Schmid said the data doesn’t justify easing yet. Atlanta’s Raphael Bostic and Chicago’s Austan Goolsbee left the door open but flagged sticky inflation risks.
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