Bitcoin News Today: Bitcoin Traders Hedge Ahead of Key CPI Data as Fed Policy Uncertainty Rises

Bitcoin traders are increasingly hedging their positions ahead of the U.S. consumer price index (CPI) release, which is expected to impact Federal Reserve decisions on interest rate cuts. July’s CPI is projected to show a 2.8% annual increase and a 0.2% monthly gain. A higher-than-anticipated reading could depress risk assets, including bitcoin, while a softer outcome may bolster expectations for a rate cut in September. QCP Capital has noted a significant surge in demand for short-dated bitcoin puts between $115,000 and $118,000, a defensive strategy against a potential sharp price decline. Traders are also covering short call positions, indicating cautious sentiment on both sides of the market [1].

Meanwhile, Bullish, the operator of the digital-asset exchange and owner of CoinDesk, has expanded its planned initial public offering (IPO), aiming to raise up to $990 million. In a recent filing with the U.S. Securities and Exchange Commission, the firm outlined plans to sell 30 million shares at $32 to $33 each, increasing from its initial proposal of 20.3 million shares at $28 to $31. At the upper end of the range, Bullish’s market valuation could reach $4.8 billion, compared to $4.2 billion under its previous plan. The company had previously attempted a $9 billion valuation through a special purpose acquisition company (SPAC) in 2021 but abandoned the effort in 2022. The IPO is being led by JPMorgan Chase, Jefferies, and Citigroup, with the company planning to list on the New York Stock Exchange under the ticker BLSH [2].

Paxos, the stablecoin issuer behind PYUSD and co-founder of USDG, has applied for a national bank trust charter with the U.S. Office of the Comptroller of the Currency (OCC). The move aims to transition the firm from New York state oversight to federal regulation, which the company claims will reinforce its commitment to safety and transparency. CEO Charles Cascarilla emphasized the move as a step toward upholding the highest standards in stablecoin operations. This initiative follows the passage of the GENIUS Act, signed by President Donald Trump, which introduced new regulatory guidelines for stablecoin issuers. Paxos had previously received conditional approval for a national charter in 2021, but the authorization lapsed in 2023 before full approval was granted. Success in this bid would place Paxos under the same regulatory framework as its largest U.S. competitors [3].

These developments highlight the growing intersection of traditional financial regulation and the evolving crypto market, with firms seeking clarity and stability in an environment shaped by macroeconomic data and regulatory reform. As Bitcoin traders prepare for the CPI release and Bullish steps closer to its public listing, the industry continues to adapt to shifting expectations and governance structures.

[1] https://www.cryptocompare.com/email-updates/daily/2025/aug/12/