Analysis: The cryptocurrency market is relatively calm before the release of macro data, but the derivatives market indicates that BTC may experience fluctuations in the near term

According to CoinDesk, the 30-day implied volatility of Bitcoin remains low, indicating that the market remains relatively calm ahead of Thursday's U.S. inflation data and Friday's Bank of Japan interest rate decision.

However, the derivatives positioning shows that long positions in BTC/USD on Bitfinex have reached their highest level since February. Additionally, the trading of Bitcoin put options with a strike price of $85,000 and call options with strike prices of $95,000 and $100,000 on Deribit suggests that Bitcoin may experience significant volatility in the near future.

Analysts believe that for Bitcoin to break the bearish trend, it needs to return above $95,000, ideally above $98,000.