For Bitcoin to avoid such a fate, it needs to trade and close above $50,000 per coin until the Federal Reserve meeting on September 18.
Bearish traders, or those expecting the price of Bitcoin to go down, have surpassed bulls in futures trading. Bitcoin (BTC) tickers, currently down to $57,715, show that bears have overtaken bulls based on the funding rates in the futures market, as revealed by analyst and verified CryptoQuant author Axel Adler.