Bitcoin Market Reacts to Fed's Rate Hike Decision and Inflation Data

Bitcoin traders are cautious ahead of the US Federal Reserve meeting, with the central bank expected to leave interest rates unchanged but indicate a potential for continued tightening over the coming months. Puts tied to bitcoin are trading pricier than bullish calls heading into the Fed meeting, according to options risk reversals data tracked by Singapore-based crypto trading giant QCP Capital. The put bias shows a nervous mood in the market. Positive inflation-adjusted interest rates, also known as real rates, often weigh over zero-yielding assets like gold and bitcoin. Historically, some crypto traders have looked to post-Fed moves in the US stock markets to decide on their plans.