QCP Capial: If the CPI data results meet expectations, it may drive the crypto market to test highs again

QCP Capial wrote that BTC and ETH spot prices are still range-bound as traders await CPI data and tonight's FOMC meeting. BTC futures swaps rebounded from a 10% low and rose yesterday, with traders profiting by closing short futures positions. There was a large amount of June 13 call option buying in the market, and funding rates increased significantly, indicating that the market expects an increase. As the stock market hits a second consecutive record high, we believe that CPI data and FOMC results, if in line with expectations, could push the crypto market to test highs again.