According to @dydxfoundation, Powell indicated conditions may warrant September interest rate cuts, and BTC and ETH jumped immediately after the remarks (source: @dydxfoundation). According to @dydxfoundation, traders can access active markets on dYdX and compete for a $3M pool of DYDX rewards this month via dydx.trade (source: @dydxfoundation).

According to QCPgroup, a softer CPI could cement odds of a September Fed cut, while a hotter print risks stalling the rally (source: QCPgroup). QCPgroup also reports active hedging demand for short-dated BTC put options concentrated in the 115k-118k strike range (source: QCPgroup). For traders, this underscores near-term CPI event risk and notable downside protection positioning around 115k-118k in Bitcoin options (source: QCPgroup).