The demand for this bullish exposure suggests some investors expect the ongoing choppy price action in BTC to end with a decisive move toward $70,000. Perhaps, they expect the CPI to come in softer-than-expected, lifting risk assets higher.
Economists currently expect the July report to show headline CPI rising 0.1% month-over-month and 3.4% year-over-year. Core CPI, which strips out food and energy, is forecast to rise 0.2% month-over-month and 2.5% year-over-year, according to consensus estimates from Reuters, Dow Jones, and Bloomberg surveys.





