On June 10, the Bureau of Labor Statistics released the May Consumer Price Index (CPI) data. CPI tracks the average change in prices that United States consumers pay for a basket of goods and
On June 10, the Bureau of Labor Statistics released the May Consumer Price Index (CPI) data.
CPI tracks the average change in prices that United States consumers pay for a basket of goods and services, including food, energy, housing, transportation, and more. It's the main gauge of inflation, showing how fast the cost of living is rising.
Economists watch both the headline number and "core" CPI, which strips out volatile food and energy prices to reveal the underlying inflation trend.
But for a pseudonymous trader, the CPI data came in with roughly $1.2 million in profit.
Related: Analyst says 'sticky inflation' could be bad for Bitcoin
Consumer prices rose 0.5% in May on a seasonally adjusted basis, easing from April's 0.6% gain, the Bureau of Labor Statistics said.
"Core" prices, which strip out food and energy, rose just 0.2% for the month, leaving the annual core rate at 2.9%.
While the headline annual figure accelerated to 4.2%, driven largely by energy, the softer monthly and core readings offered the kind of cooling signal traders often treat as risk-positive.
As per Lookonchain, the wallet, identified only by the address "0xa2e81e888f4a757bbad012ea9b193e7ab93f1468" opened a 20x long position on 36,826 Ethereum (ETH) at 8:00 a.m. ET.
Trader opens 20x long position on 36,826 ETH As per Hyperbot, the trader closed their Ethereum long position at 9:54 a.m. ET.
The timing is the striking part. The trade went on at 8:00 a.m. ET, which is 30 minutes ahead of the 8:30 a.m. CPI data, meaning the trader was positioned long Ethereum going into the release rather than reacting to it.
Hyperbot data on 0xa2e81e888f4a757bbad012ea9b193e7ab93f1468That made the position a directional wager on how markets would read the inflation print.
The closed Ethereum long booked a realized gain of about $1.21 million, with the position exited near $1,653 per coin. The exact size of the bet could not be independently verified from the available data, so the dollar amount staked is unclear.
