Bitcoin faces triple pressure, with CPI data as first test

According to analysis from BIT, formerly Matrixport, Bitcoin is consolidating around $60,000 ahead of the U.S. Consumer Price Index (CPI) data release later today, which will serve as its first major test. The firm noted that Bitcoin is currently grappling with three macroeconomic headwinds simultaneously: inflation concerns, waning investor sentiment for AI-themed assets, and geopolitical uncertainty stemming from renewed conflict involving Iran. This extreme caution is also reflected in the options market, where the implied volatility of put options has consistently surpassed that of call options, pushing the volatility skew deep into negative territory to levels that exceed even those seen during the peak of the recent Middle East geopolitical crisis.