Investors Prepare For Short-Term Bitcoin Price Adjustment Despite Weak US CPI Inflation Report

According to Odaily, an analysis of the Chicago Mercantile Exchange (CME) Bitcoin futures and options by CF Benchmarks reveals that despite a weak US CPI inflation report yesterday, investors are prepared to pay a premium for short-term downside protection. They anticipate a short-term price adjustment for Bitcoin. The CF Benchmark analysts noted that even though Bitcoin broke the $66,000 mark yesterday, the implied volatility of out-of-the-money put options remains higher compared to call options. Furthermore, the volatility curve between long-term put and call options is relatively flat, with a slight skew towards call options. This suggests that investors are more optimistic about the long-term prospects of Bitcoin.