@Sakura please summarize this article, thanks uwu.
TLDR:
Bitcoin is currently trading above $115.2k, with 95% of its supply in profit, following the FOMC meeting. The market is delicately balanced, with significant options activity expected on September 26. 
Key Points:
- Bitcoin trades above $115.2k, with 95% of supply in profit.
- Options open interest has reached a record 500k BTC ahead of the September 26 expiry.
- The market is experiencing short squeezes and volatility due to recent FOMC decisions.
- Holding above $115.2k is crucial; a drop could lead to a contraction towards $105.5k.
- The upcoming options expiry is the largest in Bitcoin’s history, potentially influencing price movements.
In-depth summary:
The latest report from Glassnode highlights Bitcoin’s performance following the Federal Open Market Committee (FOMC) meeting on September 17, where it gained momentum and is currently trading above $115.2k. This price point is significant as it represents the cost basis for 95% of Bitcoin’s supply, indicating that most holders are in profit. The report notes that the market has shifted from a risk-off stance to a more balanced position, with derivative markets absorbing liquidity through short squeezes.
In the lead-up to the FOMC meeting, there was a mild sell pressure in spot markets, but the perpetual markets showed a return of liquidity, which helped stabilize prices. The perpetual open interest peaked at around 395k BTC before a slight pullback, reflecting the heightened sensitivity of the futures market to macroeconomic events. The report also discusses the liquidation patterns, revealing that short positions were squeezed ahead of the FOMC announcement, followed by long liquidations after the rate cut.
Looking ahead, the options market is experiencing unprecedented activity, with open interest reaching a record 500k BTC. The upcoming expiry on September 26 is expected to be the largest in Bitcoin’s history, with significant implications for price movements. The report emphasizes the importance of maintaining the $115.2k level to sustain momentum, while a drop could lead to renewed selling pressure and a potential contraction towards the $105.5k range.
ELI5:
Bitcoin is like a special digital coin that people buy and sell. Right now, it’s worth more than $115,000, and most people who own it are making money. There are a lot of people betting on what will happen to its price soon, especially with a big event coming up on September 26. If Bitcoin can stay above $115,000, it might keep going up, but if it drops, it could go down to around $105,000.
Writers main point:
The primary point of the article is to highlight the delicate balance in the Bitcoin market following the FOMC meeting, emphasizing the importance of maintaining key price levels and the potential impact of upcoming options expiries on market volatility.