Analysis: The cryptocurrency market is currently cautious, with CPI and US-Iran ceasefire negotiations potentially serving as key catalysts

ME News Report, April 10 (UTC+8), Bitcoin prices have increased nearly 7% since last Sunday, but the rally has stalled around $72,000, and market confidence remains weak. Investors are awaiting key events this week, including the US inflation report on Friday and US-Iran ceasefire negotiations over the weekend. Cautious sentiment is also evident in the options market. Institutions continue to position for upside through call options, with $80,000 call options on Deribit becoming the most popular bet; according to QCP Capital, options linked to the BlackRock Bitcoin spot ETF (IBIT) show strong demand for $45 strike call options expiring in May, with traders expecting IBIT’s price to rise from the current approximately $40 to above that level. Meanwhile, demand for put options (which provide downside protection) remains steady, with options skew remaining negative across all timeframes, reflecting a persistent market preference for downside protection. On the macro front, the US March CPI is expected to increase by more than 3% year-over-year, mainly driven by rising energy prices; if the core CPI, excluding food and energy, exceeds an annualized 2.7% forecast, it will further reinforce expectations of Federal Reserve rate hikes, putting pressure on risk assets like Bitcoin. Geopolitically, US and Iranian representatives will hold talks in Pakistan this weekend. If both sides find a way to end the conflict and restore normal oil tanker traffic through the Strait of Hormuz, Bitcoin’s rally could accelerate. (Source: BlockBeats)