Bitcoin market in ‘hibernation’ as perp trading activity sinks to three-year low ahead of US CPI release: K33

Bitcoin perpetual futures trading activity dropped to a three-year low, according to K33, describing the market as in 'hibernation' ahead of the U.S. CPI report. Elevated open interest leaves BTC exposed to sharp liquidation-driven moves. Traders await Wednesday's inflation data for directional cues.