Bitcoin has been consolidating within a $62,000-to-$66,000 corridor for weeks, with traders paying approximately $2.5 million in aggregate premium on Deribit betting the coin clears $70,000 by late September. The U.S. Consumer Price Index release represents a binary event that could determine market direction, with Bitcoin’s $64,000 support level under repeated scrutiny. Consensus estimates point to headline CPI rising 3.4% year over year and core CPI at 2.5% annually, tight enough that a modest surprise could meaningfully shift rate-path expectations. Meanwhile, spot flows show Ether net outflows of $164.6 million over the past week, typically read as accumulation, while Hyperliquid smart-money positioning reveals net short exposure of $46.8 million in Bitcoin and $20.9 million in Ether, with these conflicting signals potentially aligning following the CPI print.
Source: Read the original article
