Update
Bitcoin Options Implied Odds Shift
Bitcoin's price briefly fell below $80,000 amid accelerating US inflation, leading to nearly $940 million in liquidations. CoinGlass reported 176,506 traders were liquidated during the period. Options-implied odds of Bitcoin reaching $100,000 by Christmas fell to 9.7% from 12.5%, as options traders increased protection against further declines. Ethereum's chances of exceeding $3,000 by Christmas weakened to 14%. The repositioning accelerated after the Labor Department's producer price index report, with Derive recording $129 million in Bitcoin and Ethereum options trading volume in the three hours after the release.