Analyst: CME futures traders increase Bitcoin short positions ahead of the Federal Reserve's interest rate cut decision announcement
ChainCatcher news, according to The Block, K33 analyst David Zimmerman stated that Bitcoin futures traders at the Chicago Mercantile Exchange (CME) increased their short positions ahead of today's Federal Reserve interest rate decision, indicating a cautious market sentiment.
It is reported that there is a general expectation that the Federal Reserve will lower the benchmark interest rate this week, with rate traders predicting a 50 basis point cut at Wednesday's Federal Open Market Committee (FOMC) meeting.
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