Options Traders Position for Bitcoin Upside as CPI Data Looms Over Crypto Markets

BitcoinWorld Options Traders Position for Bitcoin Upside as CPI Data Looms Over Crypto Markets As the U.S.

Consumer Price Index (CPI) release approaches, Bitcoin and Ethereum have remained range-bound, with traders closely watching the inflation data for clues on the next major market move.

According to a report from CoinDesk, the market expects the CPI reading to determine the direction of crypto prices, potentially breaking Bitcoin out of its tight $62,000-$66,000 trading range.

Options Flow Signals Upside Bets On Deribit, a leading crypto derivatives exchange, approximately $2.5 million has flowed into call options with a $70,000 strike price expiring in September.