Bitcoin Traders Unfazed by Imminent Economic Events

Bitcoin traders are showing an unusual level of calm ahead of two major economic events: the US inflation report and the Federal Reserve meeting. Despite the significance of these events, options traders are not expressing strong convictions about a potential volatility explosion.

The at-the-money implied volatility for BTC currently sits at 37-38%, according to QCP Capital's analysis. This suggests that the market is waiting for additional information rather than making bold predictions.

Last week's jobs report, which showed a much stronger-than-expected increase in employment, has shifted attention towards inflation and the Fed's next move. Markets are now assigning a 58% probability of a 25-basis-point rate hike at the September 15-16 meeting.