#usppimissmayeasebtcpressure
US PPI came in below forecasts. Is that enough to ease the pressure on Bitcoin?
October headline PPI rose 0.3% month over month, versus 0.4% expected. However, the annual rate accelerated to 6.5%, versus 6.3%, its highest level since November 2022. September’s monthly increase was revised upward to 1.4%.
Cross-check:
• Reuters: goods prices rose 0.5%, while services prices increased 0.2%. The monthly gap versus forecasts was modest; this is not broad-based disinflation.
• The BLS measures the prices received by producers, not consumer prices. PPI can inform inflation expectations, but it does not guarantee a decline in CPI or a change in the Fed’s course.
• BeInCrypto reports that around $39 million in short cryptocurrency positions were liquidated in one hour. This suggests a positioning-driven squeeze, but does not prove a BTC trend reversal.
My take: a bit of relief, yes—but higher CPI, rising annual PPI, and the risk of a rate hike in December remain. Watch Treasury yields, the dollar, and whether BTC can hold on to its rebound.
Macroeconomic relief or just a short squeeze?
$AKE
$BARD
$BTC
US PPI came in below forecasts. Is that enough to ease the pressure on Bitcoin?
October headline PPI rose 0.3% month over month, versus 0.4% expected. However, the annual rate accelerated to 6.5%, versus 6.3%, its highest level since November 2022. September’s monthly increase was revised upward to 1.4%.
Cross-check:
• Reuters: goods prices rose 0.5%, while services prices increased 0.2%. The monthly gap versus forecasts was modest; this is not broad-based disinflation.
• The BLS measures the prices received by producers, not consumer prices. PPI can inform inflation expectations, but it does not guarantee a decline in CPI or a change in the Fed’s course.
• BeInCrypto reports that around $39 million in short cryptocurrency positions were liquidated in one hour. This suggests a positioning-driven squeeze, but does not prove a BTC trend reversal.
My take: a bit of relief, yes—but higher CPI, rising annual PPI, and the risk of a rate hike in December remain. Watch Treasury yields, the dollar, and whether BTC can hold on to its rebound.
Macroeconomic relief or just a short squeeze?
$AKE
$BARD
$BTC
