Bitcoin Traders Brace for Powell Speech With Hedges and Prayers
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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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