Be careful—tonight the trend could suddenly turn! $BTC After grinding for so many days, the first real test is finally here.
1. At 8:30 tonight, the U.S. PPI will be released. The market is especially sensitive to inflation right now, because crude oil just broke above $100. Everyone worries that energy prices will continue to pass through to corporate costs.
But oil prices have been rising gradually through August, so the cost pressure may not be fully reflected in this PPI yet. That’s why I lean toward the data matching expectations or slightly beating them. The real big test is still tomorrow’s CPI.
2. If it matches expectations = continued choppy trading; if it’s slightly above expectations = a further pullback. BTC could retest around 77,000, while ETH would again challenge the 2420 area. For me, a pullback is actually more comfortable—you don’t have to chase at this “stuck-in-the-middle” spot.
3. Now, let’s talk about crude oil. The price—at $BZ —has already climbed above $100. But there’s one move that’s pretty interesting: before the CPI was released, oil tycoon XM39 closed out long positions totaling about $40 million. This suggests the current price has already made big funds start to avoid the risks brought by upcoming data. For those of us who are bearish, maybe there’s a little hope in sight.
1. At 8:30 tonight, the U.S. PPI will be released. The market is especially sensitive to inflation right now, because crude oil just broke above $100. Everyone worries that energy prices will continue to pass through to corporate costs.
But oil prices have been rising gradually through August, so the cost pressure may not be fully reflected in this PPI yet. That’s why I lean toward the data matching expectations or slightly beating them. The real big test is still tomorrow’s CPI.
2. If it matches expectations = continued choppy trading; if it’s slightly above expectations = a further pullback. BTC could retest around 77,000, while ETH would again challenge the 2420 area. For me, a pullback is actually more comfortable—you don’t have to chase at this “stuck-in-the-middle” spot.
3. Now, let’s talk about crude oil. The price—at $BZ —has already climbed above $100. But there’s one move that’s pretty interesting: before the CPI was released, oil tycoon XM39 closed out long positions totaling about $40 million. This suggests the current price has already made big funds start to avoid the risks brought by upcoming data. For those of us who are bearish, maybe there’s a little hope in sight.
