Bitcoin shows caution ahead of this week's US CPI and Fed rate decision

Odaily Odaily News Market analysis pointed out that Bitcoin fell below the $67,000 mark on Tuesday, which was related to this week's consumer price index report and the release of the Federal Reserve's monetary policy statement on Wednesday. Investors expect the Federal Reserve to have little room for maneuver, as a sharp increase in jobs in May reduced expectations for the Fed's first rate cut in September. Deribit CEO Luuk Strijers said traders may be more conservative and may reduce risk exposure or use option strategies for hedging until the economic outlook becomes clearer. The implied volatility of Bitcoin and Ethereum has fallen across the board, and despite this short-term uncertainty, the benchmark yields and call option tilts for all listed expiration dates remain high. (TheBlock)