[Analysis: BTC and ETH volatility weakens ahead of U.S. CPI release, derivatives market signals cautious optimism] Odaily Planet Daily News: Ahead of the release of U.S. CPI data, BTC and ETH volatility has weakened, and derivatives indicators show marginal improvement in market sentiment. Despite significant leverage cleanup, positive funding rates, and institutional basis recovery, traders are still paying premium protection against short-term downside risks. Currently, Bitcoin may record its fourth consecutive week of decline, marking the longest losing streak since mid-November last year. Meanwhile, trading activity slowdown and reduced volatility are also suppressing overall trading volume. In the derivatives market, the proportion of call option trading volume in the Bitcoin options market has risen to 65%, but the implied volatility term structure remains in a short-term inverted state, indicating that traders are still paying high "panic premiums" for immediate downside protection. (CoinDesk)