Crypto Markets Today: BTC Price Consolidates at $113K Ahead of Potential U.S.-China Trade Deal
Crypto markets consolidated as traders awaited the Fed's interest rate decision and progress on a U.S.-China trade deal.Summary
The crypto market paused midweek with Bitcoin consolidating around $113,100 as traders awaited two major macro catalysts: the Federal Reserve's interest-rate decision and developments in a potential U.S.-China trade agreement. Markets anticipate a rate cut to 375-400 bps, but a hold could strengthen the dollar and pressure risk assets. A successful trade deal between Presidents Xi Jinping and Donald Trump is expected to boost U.S. equities and, consequently, Bitcoin due to their positive correlation.
In derivatives, BTC open interest remains high at $26.8 billion, but polarized funding rates (Deribit spiking high, OKX dipping negative) signal uncertainty and short-term volatility. Options market data shows increased short-term bullish conviction, with traders paying significant premiums for call options.
In altcoins, traders rotated into high-beta tokens like TRUMP and AERO amid trade deal optimism, while larger tokens like ETH and HBAR lagged, indicating selective strength in the broader market.
(Source：CoinDesk)