BTC falls below the 78,000 threshold; today’s PPI is the “trailer” for the CPI
This morning, BTC tested the 78,000 support level, dipping as low as 77,900.
The market is like a fully drawn bow, waiting for tonight’s PPI and tomorrow’s CPI to release the string.
Let’s first talk about why PPI matters.
PPI is the Producer Price Index—basically the CPI’s “leading indicator”—
when factory costs rise, it eventually makes its way to consumers.
The market expects PPI to rise 0.2% month-over-month and 1.4% year-over-year.
If it comes in above expectations, that’s essentially a preview that tomorrow’s CPI won’t look good either.
The probability of further rate hikes will keep climbing, and BTC will most likely test lower levels.
On the other hand, if PPI is below expectations,
the market will price in in advance the optimistic view that “the CPI could cool down as well.”
In that case, the 80,000 level might be pulled back and regained for now.
My plan today: don’t bet on direction—wait for the data.
I’ve cut my position size to 30%, keeping plenty of cash ready; once the data comes out, I’ll take action.
The PPI data will be released tonight at 20:30, and I’ll interpret it in real time in the chat room.
Want to know right away how the data affects the market? Click my avatar to enter the chat room; the password is “PPI”.
By the way, do you think today’s PPI will come in above expectations or below them?
Place your bet in the comments: above expectations deduct 1, below expectations deduct 2.
#BinanceSquare #bitcoin #PPI #加密市场 #CPI outlook