Bitcoin
Merchants seek downward protection before inflation data in the United States, which is expected to show that the commercial rates of President Donald Trump are beginning to affect consumer prices.
The report is expected at 12:30 UTC, show that the main consumer price index (CPI) increased 2.8% year -on -year in July, compared to an increase of 2.7% in June, according to Bloomberg data.
Monthly, prices will increase 0.2%, a slight decrease of 0.3%in July. The central ICC, which excludes the volatile food and energy component, is likely to increase 0.3% in July after an increase of 0.2% in June.
According to analysts, a hottest IPC than expected could cushion the food cuts, potentially weighing risk assets, including BTC.
‘The immediate approach to the market is in the printing of the US CPI. UU. Tuesday, and the market awaits a modest increase of 2.8% year -on -year. A softer reading will probably consolidate a September rate rate by the Federal Reserve, positive for risk assets. On the contrary, a hotter impression could stop the rally, triggering the taking of tactical gains among risk assets, “said Timothy Misir, BRN research manager, Coindesk in an email.
Some merchants are already positioning for a hotter impression and potential losses in BTC. According to QCP capital, based in Singapore, the caution flow is evident from the increase in the demand for short date sales options. A sales option protects the buyer from price losses in the underlying asset.
“In advance, some merchants are charging the risk of events, with a Front-End $ 115,000, $ 118,000 BTC, see a greater demand to protect against a low surprise,” Market Insights team of QCP Capital said Monday. “This defensive positioning is found together with the coverage of short calls from Toppsid buyers.”
The cover of short call positions indicates that merchants also remain distrustful of the higher risk. BTC changed hands to $ 118,525 at the time of publication.
Read more: Bitcoin Traders Eye $ 135K, Ether $ 4.8K in Mira de Mira while the IPC data is coming
