🚨 Reminder: U.S. PPI data will be released in about two hours
Expectations:
- Monthly PPI: 0.4% vs. 1.3% previously
- Core PPI: 0.3% vs. 0.7% previously
- Annual PPI: 6.6% vs. 6.3% previously
Most expect a negative result, especially after CPI data came in higher than expected.
But look at the market: despite these concerns, it hasn't fallen. Instead, we've seen massive destruction and violent liquidations in $BTC , as if the market had squeezed out the last drop of liquidity.
But personally, I think much of the negativity has already been priced in, and I expect a rebound regardless of the result. However, the PPI data will determine how strong the rebound is and how long it lasts.
If the figures come in higher than expected, the rebound may be limited, and we could see heavy profit-taking.
If they match expectations, we could see a decent rebound, but selling pressure will still be a possibility.
If they come in lower than expected, although this scenario seems less likely, it could be a major surprise that sends Bitcoin and altcoins soaring quickly.
#WhatWillDriveCryptoandStocks’NextRebound?
Expectations:
- Monthly PPI: 0.4% vs. 1.3% previously
- Core PPI: 0.3% vs. 0.7% previously
- Annual PPI: 6.6% vs. 6.3% previously
Most expect a negative result, especially after CPI data came in higher than expected.
But look at the market: despite these concerns, it hasn't fallen. Instead, we've seen massive destruction and violent liquidations in $BTC , as if the market had squeezed out the last drop of liquidity.
But personally, I think much of the negativity has already been priced in, and I expect a rebound regardless of the result. However, the PPI data will determine how strong the rebound is and how long it lasts.
If the figures come in higher than expected, the rebound may be limited, and we could see heavy profit-taking.
If they match expectations, we could see a decent rebound, but selling pressure will still be a possibility.
If they come in lower than expected, although this scenario seems less likely, it could be a major surprise that sends Bitcoin and altcoins soaring quickly.
#WhatWillDriveCryptoandStocks’NextRebound?
