Bitget Futures Market Update: Futures CVD Dips As Powell Pushed Back Against Rate Cut Bets
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The chart shows the 24-hour change in cumulative volume delta (CVD) in futures and perpetual futures tied to the top 25 cryptocurrencies by market value.
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Except for BTC, TRX, ATOM, and XMR, the CVD has been negative for most coins, indicating net selling pressure.
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On Wednesday, Federal Reserve Chairman Jerome Powell pushed back against bets of a U.S. rate cut as soon as March, sending the dollar index to seven-week highs.
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