A split between headline and core inflation could lead to a sharp two-way trade in Bitcoin, with the first signal being the movement of Fed probabilities, Treasury yields, and the dollar.

"Together, the releases and Treasury auctions create a tightly timed test of bond demand and Bitcoin's response."

"A split between headline and core inflation could produce the sharpest two-way trade. The first durable signal will be whether Fed probabilities, Treasury yields and the dollar move together."