Bitcoin remains relatively still, with implied volatility at unusually low levels—indicating a steady market mood rather than erratic swings. Many traders are preparing for possible CPI surprises by buying short-dated put options in the $115K–$118K range as downside safeguards. This defensive posture reflects caution ahead of potentially pivotal inflation readings.Inflation data are expected to show a slight year-over-year uptick to 2.8%, a modest monthly rise of 0.2%, and core CPI rising to 0.3%. A hotter-than-expected number could derail hopes for a September Fed rate cut and put pressure on risk assets like Bitcoin.