BTC, large ETH merchants are betting that the United States inflation on Tuesday does not match Bitcoin Bull

Merchants are betting on Bitcoin

And the ether (Eth) As the BTC Mobilization continues, the observers are underestimating the United States’s inflation data on Tuesday as a potential barrier.

BTC, the leading cryptocurrency at the market value, increased to the highest levels above 121,000 dollars during the Asian trading hours on Monday, which represents a 2.7 % profit over 24 hours. The new high gain throughout the year is about 30 %, with prices increasing by 13 % this month alone, according to CoINDESK data.

Follow the ether, and 3 % increase to approximately 3,050 dollars, and other major metal currencies such as XRP

Dogecoin, bnb (BNB)And Solana Seoul (Sol)3 % boast of 5 % gains.

The activity was supported on the leading decentralized options platform that supports the ups of upward prices, with a large open interest focused in the call option of $ 130,000.

“Nearly 20 % of the open interest is concentrated on the end of DERIVE on September 26 to BTC at a call of $ 130,000, indicating that traders expect a gradual but continuous price during the next three months,” said Nick Forster, founder of Derive.

In the case of ETH, 45 % of ETH’s open attention is concentrated on July 18 in the 3400 dollar strike, with a single blow to 16 % of the ETH weekend size, and called that a sign of traders expect a break in the second largest encrypted currency.

“Although the fluctuation is still moderate compared to 2020-21, the directional condemnation grows, especially in ETH. We are closely watching to confirm this trend next week,” Forster pointed out.

The options listed on the central giant Deribit drew an emerging image similar to Bitcoin and Ether, with the bullish -sharing calls or bets than to put them throughout Tenors.

Non -event inflation

The main event for macro calendar this week is the US consumer price index (CPI) Inflation data due on Tuesday. According to factsThe consumer price index is expected to increase in June 0.23 % per month, and annual growth is 2.6 %, Even from May 2.4 %. The annual basic consumer price index, which excludes the food component and the flying energy, will increase, 3 %.

Traditional investors have seen it in the traditional market and the encryption closely over the past four years, which strongly affects the interest rate decisions in the Federal Reserve.

However, this time, the encryption market may not be affected, according to the founders of the Londoncryptoclub newsletter. They believe that financial performance, high money supply, and the soft US dollar are leading the continuous bull market and not the story of federal reserve price discounts.

“We don’t think it is important. We are still in the Goldilocks environment with slowing down, the American economy does not collapse, and while inflation is still somewhat sticky, it does not accelerate to a point that will change the direction of travel when the price cuts to the rising.

They added that with the Trump administration implemented 180 full when reducing the deficit, we went back to the Financial Playbook book in the era of Biden. “

Moreover, it is expected to add the wonderful great tax law to President Donald Trump, which was recently passed in Congress, more than 3 trillion dollars to the already high national debts over time.

“So drivers for risks and bitcoin are currently not dominated by the expectations of interest rate discounts in the Federal Reserve, but this is the story of financial domination, and the high global money supply, along with a more soft dollar. Therefore, the sensitivity to the Federal Reserve, and therefore, the consumer price index data is decreased.”

Curd and adoption week

This week, which is called “Cryotation Week” by the Trump administration, can see the House of Representatives discussing many encryption bills, including genius law, clarity law, and CBDC control law law.

Positive developments are likely to be isolated on these bitcoin fronts and the broader encryption market than overall developments. It also helps the adoption of unnecessary companies from Bitcoin.

“Bitcoin market is moving vigorously due to the demand from my cabinet bonds and its associated speculation. In addition, this week, the” encryption week “called this week.

Bloom added: “One of them, Bitcoin market is independently transmitted from the wider economy.

Read more: Bitcoin strikes new ever above $ 120,000, as inflation data waves in the United States