Analysis: Derivatives market indicators suggest BTC may experience near-term volatility; crypto market relatively calm ahead of macroeconomic data releases.

According to Odaily Planet Daily, Bitcoin's 30-day implied volatility remains low, indicating a relatively calm market ahead of Thursday's US inflation data and Friday's Bank of Japan interest rate decision. However, derivatives positioning data shows that BTC/USD long positions on Bitfinex have reached their highest level since February. Furthermore, trading in Bitcoin put options at $85,000 strike price and Bitcoin call options at $95,000 and $100,000 strike prices on Deribit suggests that Bitcoin may experience significant volatility in the near future. Analysts believe that Bitcoin needs to return above $95,000, ideally above $98,000, to break its bearish trend. (CoinDesk)