A subsequent correction saw the pair moving around $21,400 at the time of writing, with U.S. stocks reacting to surprise data surrounding economic activity in December.
“PPI comes in at 6.2%, while expectation was 6.8%. Core PPI comes in at 5.5%, while expectation was 5.7%,” Cointelegraph contributor Michaël van de Poppe“Retail sales at -1.1%, while -0.8% was expected. Core retail sales at -1.1%, while -0.4% was expected. Big misses.” An already flagging U.S. dollar index thus extended a retracement which began with the Japan news as PPI hit, falling to 101.52, its lowest since late May last year.Analysis sees"momentum fadin" on BTC chartAs ever, there were plenty of nerves visible among traders despite the strong performance, with analytics resource Material Indicators repeating warnings over uptrend weakness.on the day, referencing the status quo on the Binance order book.
Analyzing the longer-timeframe picture, he argued that the two-year lows seen in Q4 constituted a “failed breakdown.”
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