Bitcoin (BTC), that rebellious child of finance, clawed its way higher as the Wall Street clock struck April 11. The week’s final US inflation data whispered sweet nothings into the ears of the bulls. 🐂
Analyst: PPI Undershoot “Great” for US Trade War 🤷♂️
Data from CryptoMoon Markets Pro and TradingView revealed BTC/USD flirting with $83,245 as the US Producer Price Index (PPI) decided to underperform. Because why not? 📉
The Index clocked in at 2.7%, leaving the anticipated 3.3% in the dust. The core PPI print also decided to join the party of disappointment. 🎉
An official news release from the US Bureau of Labor Statistics (BLS) chimed in:
“In March, over 70 percent of the decrease in the index for final demand can be traced to prices for final demand goods, which fell 0.9 percent. The index for final demand services declined 0.2 percent.”
Reacting, trading resource The Kobeissi Letter couldn’t help but notice the rapid deceleration of US inflation. 🏎️
“We just saw the first month-over-month decline in PPI inflation, down -0.4%, since March 2024,” it told followers in part of a post on X.
“Both CPI and PPI inflation are down SHARPLY.”
Risk-asset performance, however, decided to ignore the positive inflation developments. The S&P 500 was 0.2% lower on the day, while the Nasdaq Composite index was as flat as a pancake. 🥞
As CryptoMoon reported, after stocks took a nosedive the day prior despite bullish inflation numbers, commentators explained that macro data was fueling the ongoing US trade war. 🛠️
Continuing, crypto trader, analyst, and entrepreneur Michaël van de Poppe saw a repeat playing out post-PPI.
“PPI comes in significantly lower. That’s great for Trump and his strategy,” he argued, referring to trade tariffs implemented by US President Donald Trump.
“The only thing that needs to be resolved is the on-going Trade War, but the ingredients are building up.”
Bitcoin Gets Key Bullish Dollar Trigger 🚀
Another macro development failing to provide its standard risk-asset tailwind came in the form of multiyear lows in US dollar strength. 💪
The US Dollar Index (DXY), which measures the dollar against a basket of US trading partner currencies, fell below the psychological 100 mark for the first time since 2022. 📉
As CryptoMoon reported, long-term lows on DXY have historically sparked a delayed BTC price bull run. 🐂
“Traditionally, DXY going down is very bullish for $BTC, we now have a massive bearish divergence for DXY, which may suggest it goes to 90,” popular crypto analyst Venturefounder observed in part of an X post on the topic this week.
“Last 2 times this happened triggered a Bitcoin parabolic bullrun in final phase of the bullmarket (lasting 12 months).”
An accompanying chart examined relative strength index (RSI) data for the DXY monthly chart, showing it retesting a downward-sloping trend line as support from above. 📊
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2025-04-11 19:30