Bitcoin Open Interest Hits $75B: What’s Next for BTC Price Ahead of US CPI?

Bitcoin's open interest has surged to a record $75 billion ahead of the US Consumer Price Index (CPI) release, signaling increased trader activity and potential price volatility. As of June 11, 2025, Bitcoin was trading just under $110,000, following a rollercoaster journey that saw it reach an all-time high of $112,000 on May 21 before experiencing a significant drop. This spike in open interest suggests that traders are preparing for a significant price movement linked to the upcoming CPI report. Analysts predict that if the CPI data shows a hotter-than-expected inflation rate, Bitcoin could see a price decline toward $105,600. Conversely, softer data might push it past $110,653, possibly retesting its all-time high. The CPI report is predicted to reveal a 0.23% month-over-month increase in core inflation, with a year-over-year figure at 2.9%. How traders react to this data is critical; a value surpassing forecasts could suggest persistent inflation, prompting a tighter monetary policy from the Federal Reserve and a likely sell-off in risk assets like Bitcoin. On the other hand, if inflation trends are softer than expected, it could boost market confidence, allowing Bitcoin to rally. The interplay between Bitcoin and inflation will also hinge on the effects of current economic policies, particularly those surrounding tariffs, which may further influence investor sentiment. Price analysis indicates key support at $105,600 and resistance at $110,653; traders are advised to monitor these levels closely as they could dictate future price action. Peter Brandt, a notable trader, warned of a potential steep correction, likening it to previous market behavior in 2022. As the market awaits the CPI release, traders should position themselves to adapt to possible outcomes, whether they be upward momentum or a decline.