According to @52kskew, the BTC market is top-side heavy with persistent supply and offloading into price, signaling overhead resistance on rallies (source: @52kskew). There has been a large positioning decay heading into the FOMC, indicating notable deleveraging in Bitcoin exposure (source: @52kskew). Short positioning is starting to pick up as the consensus trade into the FOMC, highlighting a build-up of shorts ahead of the event (source: @52kskew).

According to @52kskew, BTC is in a crucial consolidation into the daily close and open, with meaningful supply sitting above spot that will test buyers' momentum (source: @52kskew on X). According to @52kskew, traders should monitor the daily close for confirmation of either a breakout through the overhead supply zone or a rejection that would signal weakening buyer strength and near-term resistance control (source: @52kskew on X).