US inflation came in cooler than expected, yet BlackRock still moved 2,100 BTC and 30,800 ETH to Coinbase Prime. đ°
The AiCoin snapshot for November 14 puts US October PPI at 6.5 percent year on year, below the expected 6.6 percent, while BlackRock transferred 2,100 BTC and 30,800 ETH to Coinbase Prime in a single day. â ïž Bitcoin ETFs also saw a net outflow of 4,423 BTC in one day and Ethereum ETFs lost 32,917 ETH, so even a softer inflation print did not stop the selling. My reading is that good macro news is not enough while ETF flows and liquidations point the other way, and a transfer to an exchange is not a sale by itself, but it is not a vote of confidence either.
Does the cooler PPI print finally help Bitcoin, or do outflows keep winning the week? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Inflation
The AiCoin snapshot for November 14 puts US October PPI at 6.5 percent year on year, below the expected 6.6 percent, while BlackRock transferred 2,100 BTC and 30,800 ETH to Coinbase Prime in a single day. â ïž Bitcoin ETFs also saw a net outflow of 4,423 BTC in one day and Ethereum ETFs lost 32,917 ETH, so even a softer inflation print did not stop the selling. My reading is that good macro news is not enough while ETF flows and liquidations point the other way, and a transfer to an exchange is not a sale by itself, but it is not a vote of confidence either.
Does the cooler PPI print finally help Bitcoin, or do outflows keep winning the week? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Inflation
