The pair reacted positively to the latest United States producer price index data, which came in far lower than expected.
Prior to the release, the Binance order book showed principal bid and ask liquidity parked at $22,000 and $26,000, respectively. “Time will tell if enough bid liquidity is there to insulate $22k from getting hit,” on-chain monitoring resource Material IndicatorsBTC/USD order book data . Source: Material Indicators/ Twitter
For Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, signs were there for the Federal Reserve and Chair Jerome Powell to abandon interest rate hikes at next week’s decisive meeting. “PPI comes in at 4.6%, while 5.4% was expected. Massive miss, resulting into inflation coming down. Powell to pivot?” hePPI joined already buoyant consumer price index data released the day prior, this accompanying nine-month highs for Bitcoin as cryptoA day later, however, the focus was Europe as European bank stocks were halted for volatility and one in particular, Credit Suisse , hit new record lows.WTF? The markets are now pricing in a probability of default of 47% for Credit Suisse.
We are literally at 25k and counting. I think that whoever write this shit for is either blind or below 10.🌹🤣🤡