Here's what bitcoin and ether traders are doing ahead of the binary U.S. CPI print

FinanceHere's what bitcoin and ether traders are doing ahead of the binary U.S. CPI printBitcoin and ether are stuck in a tight range ahead of the CPI. Here’s how savvy traders are positioning for the pivotal release.By Omkar GodboleUpdated 30 min agoPublished 1 hr ago3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowWednesday’s U.S. CPI may move BTC out of its recent choppy trading range. Some traders are chasing upside exposure via options while others are setting up strategies that benefit from a volatility boom. Analysts pointed to cautiously bullish sentiment in the market. The July U.S. consumer price index hits the wires Wednesday morning, and it is shaping up as a classic binary event for bitcoin and other cryptocurrencies. 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.Traders are positioning in different ways ahead of the data release. Some are buying upside exposure through call options on leading options exchange Deribit. Calls let traders benefit if the price rises while limiting their risk to the premium paid upfront – similar to buying a lottery ticket with a defined maximum loss.“Dominant flow on Deribit BTC options since yesterday has been concentrated in the 25SEP26 70k call,” data tracking platform Laevitas said.Traders who bought that September expiry call at the $70,000 strike paid a total premium of roughly $2.5 million. That is the most they can lose if bitcoin stays below $70,000 by the end of September.The demand for this bullish exposure suggests some investors expect the ongoing choppy price action in BTC to end with a decisive move toward $70,000. Perhaps, they expect the CPI to come in softer-than-expected,…

Here's what bitcoin and ether traders are doing ahead of the binary U.S. CPI print

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