PPI is out — and it came in cooler than expected.
October US PPI: +0.3% MoM vs +0.4% expected, +6.5% YoY vs +6.6% expected. Core PPI +0.3%, right in line with consensus.
$BTC bounced off today's $67,568 low and is back around $70,000 — still down ~3.5% on the day, but the softer print takes some pressure off the December rate-hike bets.
Levels to watch: support $67,568 (today's low), resistance $72,720 (today's high). Fear & Greed still at 20 — Extreme Fear — and spot BTC ETFs have now seen 6 straight days of outflows (-$262.8M on Nov 12).
A cooler PPI helps, but the trend stays down until $BTC reclaims $72,700.
Not financial advice. DYOR.
#Bitcoin #Crypto #PPI
October US PPI: +0.3% MoM vs +0.4% expected, +6.5% YoY vs +6.6% expected. Core PPI +0.3%, right in line with consensus.
$BTC bounced off today's $67,568 low and is back around $70,000 — still down ~3.5% on the day, but the softer print takes some pressure off the December rate-hike bets.
Levels to watch: support $67,568 (today's low), resistance $72,720 (today's high). Fear & Greed still at 20 — Extreme Fear — and spot BTC ETFs have now seen 6 straight days of outflows (-$262.8M on Nov 12).
A cooler PPI helps, but the trend stays down until $BTC reclaims $72,700.
Not financial advice. DYOR.
#Bitcoin #Crypto #PPI