Bitcoin has been trading within a narrow 5.5% range for more than 24 sessions as investors await the Federal Reserve’s interest-rate decision on September 16. Approximately 840,000 BTC have a cost basis within this range, and Glassnode’s sell-side risk ratio has fallen to 7 basis points, indicating long-term holders are taking fewer profits. U.S. spot Bitcoin ETFs saw $460 million in outflows last week while the probability of a 25-basis-point rate hike stands at 88.5%, keeping pressure on non-yielding assets.
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