Bitcoin Traders Adopt Cautious Stance Ahead of Powell’s Fed Speech
Bitcoin options traders are exhibiting a mix of Optimism and caution as Federal Reserve Chair Jerome Powell prepares to speak, with market participants hedging their bets against potential volatility. Deribit, the leading crypto options exchange, notes measured demand for protective puts, signaling prudent risk management rather than bearish sentiment. Analysts interpret this as a tactical move by sophisticated players to safeguard positions while maintaining exposure to potential upside.
Bitcoin Traders Hedge Bets Ahead of Powell’s Fed Remarks
Bitcoin options traders are displaying cautious optimism as Federal Reserve Chair Jerome Powell prepares to address market expectations of a potential June rate cut. Deribit, the dominant crypto options exchange, reports subdued but measurable demand for protective puts—a sign of prudent risk management rather than outright bearishness.
"The market isn’t bracing for a storm, but sophisticated players are carrying umbrellas," observed Deribit CEO Luuk Strijers. Put options activity suggests institutional traders are maintaining CORE BTC exposure while seeking downside protection ahead of macroeconomic uncertainty.
Bitcoin (BTC) Price Slips Below $96K as Miner Selling Pressure Intensifies
Bitcoin’s price dipped below $96,611 amid mounting selling pressure from US-based miners. Riot Platforms liquidated $38.8 million worth of BTC in April, reflecting broader industry trends post-halving.
The April 2024 halving’s block reward reduction has visibly impacted mining operations. Riot’s hash rate remained stable while production fell 13% month-over-month, signaling efficiency challenges across the sector.
KuCoin Rejects Claims of 77% Bitcoin Reserve Drop, Reports 106% Reserve Ratio
KuCoin has vehemently denied reports alleging a 77% decline in its Bitcoin reserves since 2023, dismissing the data as misleading. The exchange emphasized its transparency and adherence to responsible reporting standards, while revealing a robust 106% reserve ratio.
The controversy originated from an Onchain School report citing CryptoQuant data, which suggested KuCoin’s BTC holdings plummeted from 18,300 BTC in June 2023 to approximately 4,100 BTC by April 2025. This purported 14,200 BTC reduction was attributed to the exchange’s implementation of mandatory KYC policies in August 2023.
Warren Buffett Reiterates Anti-Bitcoin Stance as Retirement Looms
Berkshire Hathaway CEO Warren Buffett, set to retire this year, doubled down on his longstanding criticism of cryptocurrencies. "If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it," Buffett said, while clarifying he wouldn’t take short positions. The comments echo his 2023 remark dismissing Bitcoin investors: "I’ve seen people do stupid things all my life."
The investment legend’s skepticism contrasts sharply with growing institutional adoption of digital assets. While Buffett maintains his folksy public persona, market observers note his strategic acumen aligns more with macro traders like George Soros than retail investors. His retirement marks the end of an era for traditional value investing, even as cryptocurrencies gain mainstream traction.
Semler Scientific Doubles Down on Bitcoin Ahead of FOMC Meeting
As the Federal Open Market Committee convenes this week, institutional players are positioning themselves in Bitcoin despite market stagnation. Semler Scientific, a medical device firm, has aggressively expanded its BTC holdings, acquiring 167 additional coins in early May—a $16.2 million purchase that brings its total reserve to 3,634 BTC ($340 million). This marks its third major accumulation in ten days, reflecting a broader corporate treasury strategy shift toward digital assets.
Analysts at 99Bitcoins anticipate no immediate policy changes from the Fed, with potential adjustments deferred until June due to the absence of July and August meetings. Bitcoin’s price remains range-bound NEAR $94,000, yet institutional accumulation suggests long-term conviction outweighs short-term volatility concerns.
UK Rejects Bitcoin Reserves but Explores Blockchain for Sovereign Debt
The UK government has firmly dismissed the idea of holding Bitcoin as part of its national reserves, citing market inappropriateness. Economic Secretary to the Treasury Emma Reynolds made the stance clear at the FT Digital Asset Summit in London, contrasting with the U.S. approach of maintaining BTC on its balance sheet.
While rejecting cryptocurrency reserves, the UK signaled openness to blockchain innovation. Reynolds revealed active exploration of distributed ledger technology for sovereign debt issuance—a move that could modernize government finance without direct crypto exposure.
