The Fed is widely expected to hold rates steady next week but traders will be watching for signals about future policy moves.
Bitcoin-based products have increased their market share to 73.3% from 70.5% amid optimism over the possible approval of a spot-price exchange-traded fund.
Massive inflation and sliding purchasing power of national fiat currencies has likely boosted demand for bitcoin.
Options worth $4.5 billion are set to expire on Friday, Deribit told CoinDesk.
Dogecoin and PEPE gained 5%-6% on Thursday, fading the action in a mostly lower cryptocurrency market.
A spot ETF approval could fundamentally alter bitcoin’s supply and demand dynamics as professional investors would allocate to BTC as an uncorrelated asset, Forex.com’s Matt Weller told CoinDesk TV.
Today in Crypto for Advisors Roxanna Islam from VettaFi discusses the current crypto ETF market with a focus on Eth futures performance.
There has been a significant bitcoin inflow into larger wallets, which suggests institutional investor demand, the report said.
The two popular göğüs coins have mostly underperformed crypto majors in the past week.
“GBTC is the gift that keeps giving,” one observer said.
