The July PPI in the US came in flat (0.0%), exactly in line with expectations. After an inflation report that came in lower than expected, the market was looking for confirmation in the producer price index—and it got it. Why does this matter for crypto? Because a contained PPI strengthens the narrative that the Fed could start cutting rates in September, which historically has been fuel for risk assets like Bitcoin and altcoins.
But be careful: the market’s reaction was lukewarm. Bitcoin stays at 62.7K, barely –1.57% over 24h, with a bearish bias on shorter timeframes (4H and 1H) despite having swept liquidity below 62.8K (the prior day’s low). The Fear Index remains at 29 (Fear), unchanged from yesterday. In other words, the macro data matches what the market wants to hear, but the technical structure still doesn’t confirm a reversal.
In summary: a flat PPI is good news for the macro narrative, but until Bitcoin breaks key resistances (like the weekly high at 65.4K) and the short-term structures turn bullish, this is still a bounce within a range—not the start of a new bullish leg. Do you think the inflation data will be enough for BTC to take off, or does it still need more conviction?
#USJulyPPIFlat
But be careful: the market’s reaction was lukewarm. Bitcoin stays at 62.7K, barely –1.57% over 24h, with a bearish bias on shorter timeframes (4H and 1H) despite having swept liquidity below 62.8K (the prior day’s low). The Fear Index remains at 29 (Fear), unchanged from yesterday. In other words, the macro data matches what the market wants to hear, but the technical structure still doesn’t confirm a reversal.
In summary: a flat PPI is good news for the macro narrative, but until Bitcoin breaks key resistances (like the weekly high at 65.4K) and the short-term structures turn bullish, this is still a bounce within a range—not the start of a new bullish leg. Do you think the inflation data will be enough for BTC to take off, or does it still need more conviction?
#USJulyPPIFlat