PPI came in below expectations, yet $BTC kept sliding all the way to 67,200. It hit a low of 66,456 this morning, and even the 200-week moving average at 68,000 failed to hold. To be honest, I didn’t see this coming: good data, but Treasury yields surged to 5.15%. Breaking it down, there are three forces draining the market: the U.S. Dollar Index broke above 103, pushing the 10-year Treasury yield to 5.15%; spot ETFs have seen $1.56 billion in net outflows this year, the first annual net outflow on record; and $1.26 billion in positions were liquidated in 24 hours, wiping out 173,000 traders. When good news fails to lift prices, that’s an answer in itself. $BTC is already down 22% this year. It would need to climb back to 87,500 before year-end just to turn positive—a tough calculation any way you look at it. This weekend, there’s just one thing to watch: can it close Sunday back above the 200-week moving average at 68,000? If not, 65,000 is the next level to watch next week. What do you think of this level? Are the ETFs turning negative for the year the final wave of panic selling, or are institutions really not coming back?

#USPPIMissMayEaseBTCPressure #BTC #CryptoNews