Bitcoin traders reduced bullish bets ahead of US inflation data, with Bitcoin pulling back from $80,000 to $78,000.
AI trading terminal OrderX data shows that as Bitcoin retreated from $80,000 to approximately $78,000, bullish option skew continued to soften, and traders are reducing their long exposure. The US is set to release August PPI data today, with an expected month-over-month increase of 0.4%, and the annualized growth rate projected to rise from 4.7% to 5.3%. The CPI report will also be released on Friday, with inflation expected to accelerate again. The market widely anticipates a more than 60% probability of the Federal Reserve raising interest rates next week.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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