Bitcoin options activity surges as traders prepare for CPI-driven volatility that could break BTC out of its weeks-long trading range.
Bitcoin remains confined between $62,000 and $66,000 as traders await Wednesday’s U.S. consumer price index report, a key catalyst for potential breakout or breakdown. The CPI print is expected to trigger sharp moves, with a hotter-than-expected reading pressuring risk assets and a softer print potentially easing Fed rate hike fears.
Traders are split in their positioning. Some are buying call options on Deribit, targeting a move toward $70,000, while others are structuring strategies to profit from heightened volatility. Data shows heavy demand for the September 26 $70,000 call, reflecting cautiously bullish sentiment.
The outcome could end BTC’s choppy range, with Treasury yields and Fed policy expectations driving the next leg. Markets have priced in a binary reaction, with limited room for muted moves.