CryptoQuant: Trader sentiment turns bullish ahead of Fed decision

Trader sentiment is turning bullish ahead of the U.S. Federal Reserve's interest rate decision, according to an analysis by CryptoQuant. Data indicates that as BTC reclaimed the $70,000 level, a significant volume of short positions were liquidated, while new long positions are being established above $73,000. CryptoQuant noted that the market's positioning has completely reversed, with long positions now overwhelmingly dominating the perpetual futures market.