Bitcoin (BTC) asked for higher levels around the opening of April 11 at Wall Street, the latest American inflation data, the bulls have given hope.
BTC / USD 1 hour. Source: Cointelegraph / TradingView
Analyst: PPI Under-Sort “big” for the American trade war
Cointelegraph Markets Pro and TradingView data has shown that BTC / USD reaching heights of $ 83,245 as US Produce Price Data (PPI) were lower than expectations.
The index came to 2.7% against the 3.3% planned, while basic PPI printing also surprised the drawbacks.
An official press release from the US Bureau of Labor Statistics (BLS) added:
“In March, more than 70% of the drop in the final demand index can be traced at the prices of final demand goods, which dropped by 0.9%. The final demand services index decreased by 0.2%. ”
US PPI for final demand. Source: BLS
Reacting, commercial resources Kobeissi’s letter was one of those noting the rapid pace to which American inflation seemed to slow down.
“We have just seen the first drop in the month to month of PPI inflation, down -0.4%since March 2024,” he told subscribers in a part of a position on X.
“The inflation of the IPC and the IPP is sharply decreasing.”
S&P 500 4 hours. Source: Cointelegraph / TradingView
However, the performance of risk assets has failed to reflect the theoretically positive inflation developments. The S&P 500 was less than 0.2% per day, while the Nasdaq composite index was flat.
As Cintelelegraph reported, after the actions have dropped the day before despite the number of upward inflation, the commentators explained that macro-data helped to fuel the current American trade war.
Continuing, crypto trader, analyst and entrepreneur Michaël Van de Poppe saw a rehearsal after the PPI.
“PPI is considerably lower. It’s great for Trump and his strategy,” he said, referring to the commercial prices implemented by US President Donald Trump.
“The only thing that must be resolved is the current trade war, but the ingredients accumulate.”
Bitcoin obtains a bullish dollar trigger
Another macro development that has not provided its rear wind at standard risk came in the form of multi -year hollow in American force.
In relation: The creator of Bollinger Bands says that Bitcoin forming a “classic” soil nearly $ 80,000
The US dollar index (DXY), which measures the dollar compared to a basket of American currency from business partners, fell below the psychological brand of the 100 for the first time since 2022.
US dollar index (DXY) 1 week. Source: Cointelegraph / TradingView
As Cointtelegraph reported, long -term stockings on Dxy have historically triggered a BTC BTC Bull Run.
“Traditionally, Doxy which is lowering is very optimistic for $ BTC, we now have a massive down divergence for Dxy, which can suggest that it goes to 90,” observed a week from the popular crypto analyst.
“The last 2 times, this has occurred has triggered a Bitcoin parabolic Bullrun in the final phase of the Bullmarket (durated 12 months).”
US Dollar Index (DXY) VS BTC / USD graphics with RSI data. Source: Venturefounder / x
A graphic that accompanies it examined the data from the relative resistance index (RSI) for the monthly Dxy graph, showing that it reests a tendency line for downward pressure as a support above.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
