Friday PPI is the next big catalyst, and after a hot CPI it could decide the week. 📰
The Block reports Friday producer price index is next on the economic calendar, after October CPI printed plus 0.4 percent against 0.3 percent expected, which pushed CME FedWatch December hike odds to 85 to 90 percent, with zero odds of a hold. 📊 The 10 year yield is sitting near 5.0 percent, which raises the cost of holding Bitcoin with no yield, and the US bond market was closed today for Veterans Day, so the CPI reaction in rates is still not fully priced. My reading is that PPI matters more than usual this week, because a second hot inflation print would lock in the December hike and keep pressure on Bitcoin below 75,456 dollars, while a soft print would give the bounce a real reason to continue.
Does Friday PPI come in hot again, or does it give the bounce room to run? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #PPI
The Block reports Friday producer price index is next on the economic calendar, after October CPI printed plus 0.4 percent against 0.3 percent expected, which pushed CME FedWatch December hike odds to 85 to 90 percent, with zero odds of a hold. 📊 The 10 year yield is sitting near 5.0 percent, which raises the cost of holding Bitcoin with no yield, and the US bond market was closed today for Veterans Day, so the CPI reaction in rates is still not fully priced. My reading is that PPI matters more than usual this week, because a second hot inflation print would lock in the December hike and keep pressure on Bitcoin below 75,456 dollars, while a soft print would give the bounce a real reason to continue.
Does Friday PPI come in hot again, or does it give the bounce room to run? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #PPI
