In the early hours of November 15, BNB fell below 590 USDT, down 6.68% in 24 hours. Just a day earlier, it had broken above 630 USDT.
Monthly inflation data came in below expectations, but for now it has failed to reverse BNB’s string of losses. On the evening of November 14, BNB briefly climbed back above 620 USDT, then fell below 610, 600, and 590 USDT in succession. Its intraday rebound did not last.
The US Producer Price Index (PPI) rose 0.3% month over month in October, below the market expectation of 0.4%, while still rising 6.5% year over year. Over the latest five fully reported trading days, US spot Bitcoin ETFs continued to see significant net outflows. However, that reflects Bitcoin’s fund flows and cannot be taken directly as an indication of BNB’s.
The next things to watch are whether BNB can reclaim 600 USDT and whether risk capital flows back in as subsequent inflation data improves. If below-expected monthly data still fails to bring a sustained recovery, is the market trading on cooling inflation or continued tightening of capital?
Monthly inflation data came in below expectations, but for now it has failed to reverse BNB’s string of losses. On the evening of November 14, BNB briefly climbed back above 620 USDT, then fell below 610, 600, and 590 USDT in succession. Its intraday rebound did not last.
The US Producer Price Index (PPI) rose 0.3% month over month in October, below the market expectation of 0.4%, while still rising 6.5% year over year. Over the latest five fully reported trading days, US spot Bitcoin ETFs continued to see significant net outflows. However, that reflects Bitcoin’s fund flows and cannot be taken directly as an indication of BNB’s.
The next things to watch are whether BNB can reclaim 600 USDT and whether risk capital flows back in as subsequent inflation data improves. If below-expected monthly data still fails to bring a sustained recovery, is the market trading on cooling inflation or continued tightening of capital?