Bitcoin futures traders de-risk for FOMC, but Coinbase premium shows spot demand

Bitcoin futures open interest dropped by $2 billion ahead of this week’s FOMC, but the Coinbase premium index shows traders are determined to defend the $115,000 price level.

Key takeaways:

Bitcoin futures open interest fell $2 billion in five days, signaling cautious futures traders.

Binance taker volume averages cycle lows as the market waits for Fed’s interest rate decision.

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