Bitcoin's One-Week Options Skew Drops Below 1% Ahead of Fed Decision

Bitcoin (BTC) one-week options skew fell below 1% from nearly 10% a week earlier, signaling less demand for short-term downside protection as traders awaited the Federal Reserve's rate decision. Markets priced about a 92% chance that the Fed would leave rates unchanged. Traders were watching Fed Chair Kevin Warsh's news conference for clues about whether rate increases might be considered later. U.S. spot Bitcoin exchange-traded funds recorded $176 million in net inflows Tuesday, their second straight day of inflows. Separately, over a 24-hour period, crypto futures trading volume rose 7.5% to $163.2 billion, open interest increased 1.3%, and liquidations climbed 38% to $183.6 million. Bitcoin rose 2.3% as its open interest slipped 0.1%. Ether (ETH) gained 2.7%, while its open interest increased 1.7%.

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