Bitcoin · Federal Reserve (FED) · Iran · CoinDesk
Bitcoin's one-week options skew shows a near 25-point premium for puts relative to calls
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The core PCE, which strips out volatile food and energy costs and is the Federal Reserve's preferred inflation measure, is expected to show a 3.4% year-on-year gain for May, up from 3.3% in April and the highest since late 2023, according to FactSet.
Key facts
- WTI crude futures have dropped to $70, significantly below the $100-plus level seen during the Iran war in March and April
- The core PCE, which strips out volatile food and energy costs and is the Federal Reserve's preferred inflation measure, is expected to show a 3.4% year-on-year gain for May, up from 3.3% in April
- For crypto, that trigger could be the U.S. core personal consumption expenditure (PCE) data due at 8:30 a.m
- Beyond inflation numbers, watch out for volatility in Strategy's common shares, MSTR, and preferred stock, STRC, plus AI names on Wall Street
Summary
This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already. The bitcoin BTC $ 61,062.11 market appears to be in a panic, with derivatives investors paying an outsized premium for protection against declines. For crypto, that trigger could be the U.S. core personal consumption expenditure (PCE) data due at 8:30 a.m. Bitcoin's one-week options skew shows a near 25-point premium for puts relative to calls, a sign of the bias for downside bets.