PPI is out. The whole market waited all day for a sell-off, but it fizzled.
October PPI rose 0.3% month over month, below the 0.4% forecast; year over year, it was 6.5%, below the 6.6% forecast. Both came in cooler than expected, while core PPI at 0.3% was right on target.
$BTC was still hovering around 69,150 before the release. Five minutes after the data came out, it shot up to 69,923—a $770 bounce.
Bears had the upper hand all day, even breaking below 67,568, but that final blow never landed.
A Cooler data means a turnaround—get in at 69,900 and bet on a rebound
B A $770 bounce counts as a rebound? Let’s see if it can hold above 70,000 first
$BTC $ETH
#PPI #比特币 #FederalReserve
October PPI rose 0.3% month over month, below the 0.4% forecast; year over year, it was 6.5%, below the 6.6% forecast. Both came in cooler than expected, while core PPI at 0.3% was right on target.
$BTC was still hovering around 69,150 before the release. Five minutes after the data came out, it shot up to 69,923—a $770 bounce.
Bears had the upper hand all day, even breaking below 67,568, but that final blow never landed.
A Cooler data means a turnaround—get in at 69,900 and bet on a rebound
B A $770 bounce counts as a rebound? Let’s see if it can hold above 70,000 first
$BTC $ETH
#PPI #比特币 #FederalReserve
