Bitcoin sell-side pressure falls to 1-year low as market eyes Fed rate decision

Bitcoin sell-side pressure has fallen to its lowest level in the past year, but weak buying demand is limiting upside, according to Bitfinex Alpha. The report said BTC has moved sideways within a roughly 5.5% range for more than 24 trading days, while slowing profit-taking pushed the Sell-Side Risk Ratio down to 0.07%, near the lowest level of the past year. In the derivatives market, leverage is building at the top and bottom of the range. Around $82,000, short positions worth about $1.95 billion face liquidation risk, while large long positions have formed in the $75,000-$76,000 zone. As a result, price volatility could increase after the Federal Reserve's rate decision.