Bitcoin Eyes Uncertain Future as Market Signals Shift

Key Points

1. The 180-day options skew on Deribit has fallen to zero, suggesting a lack of bullish expectations for Bitcoin's long-term performance.

2. A similar trend was observed at the beginning of the previous bear market, indicating potential caution among investors.

3. Bitcoin's price fell by approximately 4% last week, influenced by macroeconomic factors such as the U.S. core PCE index increase and proposed tariffs.

4. Market analysts are awaiting key economic data releases, including ISM services PMI, July CPI, and PPI, to gauge future market movements.

5. JPMorgan reports suggest that new tariffs could lead to inflation rises in the U.S., affecting cost pressures and interest rate expectations.