🚨 BREAKING: PPI COMES IN COOL — $BTC BOUNCES OFF THE FIB AND RECLAIMS $70,000
The number everyone was waiting for just landed — and the bears got caught offside.
US producer prices rose just 0.3% in October, below the 0.4% forecast, with the annual rate at 6.5% against 6.6% expected. Core PPI landed exactly in line. Still the hottest annual print since 2022 — but softer than feared.
$BTC had slid to $67,652 earlier in the day, slipping below its 200-week moving average near $68,000. Then the print hit and the market turned: $BTC bounced cleanly off the 0.618 Fibonacci retracement near $69,062, pushed back above $70,000, and is now trading near $69,300. $39 million in shorts were liquidated within an hour — one $52 million short is now 2% from forced liquidation.
$ETH is holding near $1,940 after its own slide below $2,000, and the Fear & Greed Index sits at 20 — extreme fear, its lowest in more than four months. Funding has flipped negative for the first time in a month — the crowd is now short.
My take: this is a classic oversold bounce, not a trend change yet. The cooler PPI took the 50-basis-point December hike bet off the table, but the Fed is still expected to hike 25 basis points and the 10-year yield is still above 5.1%. What matters now: can $BTC hold $70,000 into the weekend close? A hold makes $67,652 a real bottom; a rejection sends us back to the 200-week average.
One green shoot: Injective leads the top 100 today, up about 5.9%, with Hyperliquid close behind.
Levels to watch: support at $69,062 (the Fib level that just held), then $68,000. Resistance at $70,000, then $71,500 — last night's close.
Source: US Bureau of Labor Statistics, CoinDesk, BeInCrypto — 13 Nov 2026
Did the PPI print mark the bottom, or is this just a bounce before the next leg down? Drop your view below.
Follow for daily crypto updates.
#Bitcoin #Crypto #BTC
Not financial advice.
The number everyone was waiting for just landed — and the bears got caught offside.
US producer prices rose just 0.3% in October, below the 0.4% forecast, with the annual rate at 6.5% against 6.6% expected. Core PPI landed exactly in line. Still the hottest annual print since 2022 — but softer than feared.
$BTC had slid to $67,652 earlier in the day, slipping below its 200-week moving average near $68,000. Then the print hit and the market turned: $BTC bounced cleanly off the 0.618 Fibonacci retracement near $69,062, pushed back above $70,000, and is now trading near $69,300. $39 million in shorts were liquidated within an hour — one $52 million short is now 2% from forced liquidation.
$ETH is holding near $1,940 after its own slide below $2,000, and the Fear & Greed Index sits at 20 — extreme fear, its lowest in more than four months. Funding has flipped negative for the first time in a month — the crowd is now short.
My take: this is a classic oversold bounce, not a trend change yet. The cooler PPI took the 50-basis-point December hike bet off the table, but the Fed is still expected to hike 25 basis points and the 10-year yield is still above 5.1%. What matters now: can $BTC hold $70,000 into the weekend close? A hold makes $67,652 a real bottom; a rejection sends us back to the 200-week average.
One green shoot: Injective leads the top 100 today, up about 5.9%, with Hyperliquid close behind.
Levels to watch: support at $69,062 (the Fib level that just held), then $68,000. Resistance at $70,000, then $71,500 — last night's close.
Source: US Bureau of Labor Statistics, CoinDesk, BeInCrypto — 13 Nov 2026
Did the PPI print mark the bottom, or is this just a bounce before the next leg down? Drop your view below.
Follow for daily crypto updates.
#Bitcoin #Crypto #BTC
Not financial advice.
