What is behind the price drops today of BTC, XRP, and the market in general of #criptomonedas ?⬇️😱
An hour ago, the U.S. released the dreaded manufacturing inflation data:
+3.3 % (prediction: +2.5 %)
U.S. core PPI (year-on-year):
+3.7 % (prediction: +2.9 %)
📝 In summary, this indicates that Trump's tariffs are fully in effect, that the recent CPI data was purposely accurate 👍, but that manufacturers have been speculating and are already suffering.
The main implication is that, based on this data, it is unlikely that the Fed will cut rates, even if the labor market situation is bad 💉. Additionally, coincidentally, the director of the U.S. Department of the Treasury, Bessent, spoke today in an interview and said that the U.S. has no plans to buy crypto assets for reserves 💰🤦♂️, but will form them from confiscated ones.
I will stay in touch.
Wishing everyone calmness and patience. 🔥
