Bitcoin is entering a week dominated by two major political and monetary meetings. Tuesday, September 15, the US Senate must vote to close the debates on the CLARITY law. On Wednesday, the FOMC will announce its interest rate decision. Yet positioning data shows that traders have already adjusted their exposure. Since the start of the month, open positions have declined sharply, while the price has fallen more moderately. This reset could already change the dynamics of the next sessions.
In brief
- Open positions in the crypto market fell by 13.5% between September 3 and 11.
- Traders withdrew 43,346 BTC from their positions, significantly reducing their leveraged exposure.
- The price fell by only 5% over the same period, despite this sharp drop in positioning.
- The CLARITY vote and the Fed’s decision could now determine the market’s next move.
Two major events focus attention
The Senate is scheduled to vote Tuesday at 2:15 p.m. on closing debate on the CLARITY Act. The text has continued its journey through committee since its presentation to the Senate last September. Voting requires 60 votes. The Republicans have 53 seats, involving seven Democratic support.
The day after, FOMC to announce interest rate decision. Bitcoin remains followed before this deadline, due to a pattern observed until 2025. Its price fell with each FOMC announcement. Traders are approaching this meeting with this precedent.
However, operators have already reduced their exposure before these appointments. This development could limit certain movements linked to overloaded positions. The reaction will depend on new purchases and actual sales. The market thus enters the week with a modified positioning.
Open positions on Bitcoin fall faster than the price
According to Santiment data, open positions increased from 321,497 BTC on September 3 to 278,151 BTC on September 11. The market reduced 43,346 coins. This drop represents 13.5%, compared to 5% for the drop in price. The gap shows less leveraged exposure.
Traders liquidated leveraged positions. The current level remains 20% lower than that observed before the mid-August increase. The decline stopped on September 11, then the market progressed during the last two sessions. Bitcoin evolves with a leverage that is being absorbed.
At the time of writing, the price of bitcoin was trading at $78,907 according to CoinGecko dataa drop of 1.8% over seven days. The price fell from nearly $79,500 on September 8 to $76,000 on September 11. He found $79,000 on September 12.
A lighter market before the Fed decision
The price has remained stable since the 4th, despite the drop in leveraged positions. A similar pattern occurred in May, when bitcoin had lost three weeks of gains before a Fed meeting. This episode reminds us that these periods can reduce exposure.
This reset has two possible effects. On the one hand, more flexible positioning can reduce forced sales if the news provokes a negative reaction. On the other hand, a lower exposure limits the risk of a strong increase linked to the closure of positions. Bitcoin could react to actual purchases.
The next step will depend on the announcements and the reaction of operators. The market has fewer leveraged positions that can amplify a move. The price could reflect the flow of purchases or sales following the deadlines. Attention will remain focused on CLARITY and the FOMC.
This configuration opens a new phase for the market. After reducing leveraged positions, future movements may depend on actual buying and selling. Senate and FOMC announcements will provide the next benchmarks. BTC enters with reduced exposure, with no new direction established.
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