BlockBeats reported on September 18 that K33 Research analysts said that Chicago Mercantile Exchange (CME) Bitcoin futures traders increased their short positions before the Federal Reserve announced interest rates on Wednesday, indicating that the market was cautious.
Zimmerman explained: “CME active market participants increased their exposure by 5,500 bitcoins in the past two days, while the premium hit a 9-month low, indicating that the new positions shifted to short bitcoin. Hedging FOMC risks may be the reason for the decline in CME Bitcoin futures premium. This is usually a negative short-term signal, which will cause the market to further amplify the volatility caused by the FOMC.”
