Bitcoin (BTC)Traders Await Federal Reserve Decision

Bitcoin (BTC) traders are taking a defensive stance ahead of Wednesday’s meeting of U.S. Federal Reserve’s Federal Open Market Commitee (FOMC) meeting, with most expecting a “hawkish” pause, i.e., the central bank leaving interest rates unchanged while keeping the door open for future increases. The Fed is set to announce its interest rate decision on Wednesday at 2 p.m. ET (18:00 UTC). Puts – or bearish bets – 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. Traders often consider put bias as showing a nervous mood in the market. Bitcoin is little-changed over the past 24 hours at around $25,900. Top performers amongst digital assets on Wednesday were Binance’s BNB token, which gained 5%, and Chainlink (LINK) which was up almost 3% on the day.