Bitcoin has traded in a tight $62,000–$66,000 range for five weeks as spot ETF inflows have been offset by OTC selling from miners and corporate holders like MicroStrategy. Today's July CPI print is forecast at 3.5% YoY headline and 2.5% core, with implied volatility at multi-year lows.
Matters because: A hotter print could pressure risk assets, while an in-line or cooler reading may help BTC break out of its current range.