No need to say that today's data came in poorly, since #BTC quickly fell to $117K and Altcoins went down rapidly.

However, let's look deeper...in just over 3 minutes more than $420,000,000 were liquidated in LONG positions, meaning... Altcoins dropped -5/6% on average and was responsible for such a liquidation?! So it is sensible to say that all these LATE traders were still using SUPER leverage, since they had no margin for a drop of -6%.

Of course, most are certainly new people in the market, since anyone who has been here longer knows that IN a strong upward trend, the drops are incredibly strong as well (if there is a catalyst).

Large holders will not let YOU make easy profits, either you decrease the leverage, or you will be taken off the chart EVERY time there is a catalyst. Either way, let's see what we had in the data...

1. PPI (Monthly – Jul)

Current: +0.9%

Projection: +0.2%

Previous: 0.0%

The PPI came in well above expectations, signaling inflationary pressure at the production level. This will be a problem, since we have this relentless stance from Powell regarding Interest Rates...however, we can already see that some large CTs were quick to mention possibilities like *Raising Interest Rates*, if inflation is heated.

I do not see this as a possibility, I think that in the worst-case scenario Powell would not cut...but to raise Interest Rates would be totally crazy.

2. Initial Jobless Claims

Current: 224K

Projection: 225K

Previous: 227K

Came practically in line with the projection and slightly below the previous, showing that the labor market remains robust, it came in poorly...but it’s not the end of the world.

It is true that today's data does not favor Powell at all, but this stronger drop is much more related to the fact that the LATE LONGs were the incentive for large holders. 🤔