tldr; Bitcoin surged above $114,000 as US Producer Price Index (PPI) data showed inflation cooling sharply in August, fueling speculation of imminent Federal Reserve rate cuts. The PPI dropped to 2.6% year-over-year, below forecasts, and core PPI fell to 2.8%. Historical trends suggest Fed rate cuts lead to short-term turbulence followed by long-term upside for Bitcoin. Onchain metrics like MVRV and Whale Ratio indicate potential volatility but also point to a favorable liquidity backdrop for future Bitcoin growth.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
3 Comments
Wen 144K?
tldr; Bitcoin surged above $114,000 as US Producer Price Index (PPI) data showed inflation cooling sharply in August, fueling speculation of imminent Federal Reserve rate cuts. The PPI dropped to 2.6% year-over-year, below forecasts, and core PPI fell to 2.8%. Historical trends suggest Fed rate cuts lead to short-term turbulence followed by long-term upside for Bitcoin. Onchain metrics like MVRV and Whale Ratio indicate potential volatility but also point to a favorable liquidity backdrop for future Bitcoin growth.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
BTC at $114k is still a steal