Bitcoin Options Market Turns Bullish Ahead of Fed Rate Decision and CLARITY Act Vote

The Bitcoin options market has shifted into a bullish trend for the first time in 12 months. Derive, an options platform, reports that large bets are being made through call options at strike prices of $80,000 and $100,000. This is a significant shift from previous trends.

This change comes ahead of the Federal Reserve's rate decision on September 16, which could be a key variable for further gains in Bitcoin. The market is pricing in about an 85% chance of a rate increase at this meeting. Yields on long-term US Treasuries are also nearing 5%, adding pressure on risk assets.

The CLARITY Act vote scheduled for September 15 could also have an impact on the price of Bitcoin. If the bill passes against expectations, it could become a bullish catalyst from a fundamentals standpoint, according to Jim Ferraioli, head of digital asset research at Charles Schwab.