BTC is back around $77000.
As of this afternoon, BTC has been trading in a tight range around $77,000. The pullback isn’t particularly large, but what’s truly troubling now is the macro picture.
The U.S. August PPI rose 5.4% year over year, higher than July’s 4.8%. Even after excluding food, energy, and trade services, it still rose 4.7% year over year.
Meanwhile, Brent crude oil briefly surged to around $108. With oil prices staying elevated, transportation and production cost pressures are starting to move higher again. Whether the Federal Reserve will raise rates next week has returned as a question the market needs to seriously consider.
So tonight’s U.S. CPI at 20:30 is crucial.
What the market is most worried about is that this chain of events could re-form:
Oil prices rise → inflation rebounds → the Fed keeps tightening → U.S. Treasury yields and the dollar strengthen → BTC and tech stocks face pressure.
Tonight:
If the CPI comes in below expectations, BTC can reclaim above $78,000 and short-term pressure will ease.
If the CPI remains too hot and BTC effectively breaks below $76,000, then be careful—macro pressure could continue transmitting lower.
Let’s see how the market plays out.
#沙特原油产量创1990年来新低
As of this afternoon, BTC has been trading in a tight range around $77,000. The pullback isn’t particularly large, but what’s truly troubling now is the macro picture.
The U.S. August PPI rose 5.4% year over year, higher than July’s 4.8%. Even after excluding food, energy, and trade services, it still rose 4.7% year over year.
Meanwhile, Brent crude oil briefly surged to around $108. With oil prices staying elevated, transportation and production cost pressures are starting to move higher again. Whether the Federal Reserve will raise rates next week has returned as a question the market needs to seriously consider.
So tonight’s U.S. CPI at 20:30 is crucial.
What the market is most worried about is that this chain of events could re-form:
Oil prices rise → inflation rebounds → the Fed keeps tightening → U.S. Treasury yields and the dollar strengthen → BTC and tech stocks face pressure.
Tonight:
If the CPI comes in below expectations, BTC can reclaim above $78,000 and short-term pressure will ease.
If the CPI remains too hot and BTC effectively breaks below $76,000, then be careful—macro pressure could continue transmitting lower.
Let’s see how the market plays out.
#沙特原油产量创1990年来新低
