CoinDesk·5 min read·hard
Here's what bitcoin and ether traders are doing ahead of the binary U.S. CPI print
O
Omkar Godbole
✦AI Summary
Bitcoin and ether traders are adjusting their positions in anticipation of upcoming U.S. CPI data, which could influence Federal Reserve interest rate decisions. Market participants are utilizing options strategies to hedge against volatility or bet on a potential price breakout toward $70,000.
A hotter-than-expected number would strengthen the case for a Federal Reserve rate hike in September, push Treasury yields higher, and keep pressure on risk assets. A softer print would do the opposite. Either way, the result could bitcoin out of the $62,000–$66,000 range it has been stuck in for weeks.
businesseconomycrypto
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