The cryptocurrency market is buzzing with anticipation as Bitcoin inches closer to its all-time high, coinciding with a surge in risk appetite across the broader financial landscape. This surge, which has pushed Bitcoin past $122,000 and brought Ethereum to a 21% jump, reflects growing optimism within the cryptocurrency world, according to QCP Capital. Traders are holding their breath for Tuesday’s U.S. CPI release, a significant data point that could impact crypto volatility. The market anticipates a possible rise in year-on-year inflation rate from 2.8%, possibly prompting the Federal Reserve to consider rate cuts. This anticipation is evident in the increased trading of Bitcoin put options, signaling traders’ hedging strategies for potential downside risks.